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  • The integration is expected to facilitate quick and cheap cross-border payments between banks.
  • PNC’s large customer base will help Ripple in enhancing its position within the banking sector.
  • XRP/USD went up from $0.257 to $0.259 this Monday.

A division of PNC bank had officially joined RippleNet to tap its blockchain solution for cross-border payments and settlements. PNC Treasury Management will be using Ripple’s technology to process international payments. This is a prominent indication of the use of blockchain in mainstream finance.

Ripple is headed towards introducing several blockchain-based solutions that enable international transactions between banks in a faster, cost-efficient way than the present systems. As stated by Ripple, PNC has over eight million customers and retail branches in 19 states, which helps Ripple to enhance its position within the US banking sector.  

However, there has been no significant change in the value of Ripple given the firm’s growing acceptance of products developed by the California-based blockchain specialist. In addition to the PNC bank, Ripple has signed up over 200 members including giants like MoneyGram.

XRP/USD daily chart

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XRP/USD went up from $0.257 to $0.259 this Monday. The price has gone up further to $0.26 this Tuesday. In the process, XRP/USD broke above the resistance provided by the downward trending line. The 20-day simple moving average (SMA 20) curve acts as immediate market resistance.