Blockchain News: XRP Ripple to be used by 13 new financial institutions .

Today, it was reported that 13 financial institutions have started to utilize the Ripple blockchain through RippleNet, bringing the total number of banks in the Ripple ecosystem to 200. JNFX head of emerging markets, Ashay Mervyn, stated that RippleNet is highly cost-effective when processing payments for international clients:

“Payments between countries are beset with inefficiencies—inefficiencies around cost, inefficiencies around speed and inefficiencies around transparency. RippleNet is specifically geared to address these problems. For our customers who range from the largest conglomerates in Africa (with operations and commitments in over 40 countries) to individuals in villages in rural Nigeria, our decision to join RippleNet and utilize their payment solution—including XRP for on-demand liquidity—just makes sense.”

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