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India’s Federal Bank was partnered with Ripple to XRP for cross-border payments

FX Street
Published date:
  • Ripple partner with India’s Federal Bank in facilitating cross border payments.
  • The bank is a crucial part of India remittance industry according to the CEO of the Federal Bank in India.

The announcement detailed that the new partnership will allow the Federal Bank to leverage in cross border payments via the Ripple network.

It further noted that Ripple’s platform offers “safer and secured” cross border transactions for the bank. This partnership was confirmed by the bank’s CEO Shyam Srinivasan and Senior VP John Mitchell of Ripple.

The CEO Srinivasan said that “the bank is crucial to India’s remittance industry. Considering this major role, and it is only natural for them to bring in the latest technology”, this of which is what led them to Ripple.

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