- SBI Holdings has joined Project Agora in order to investigate the integration of tokenized deposits and central bank digital currency.
- Partners Tranglo in Instarem, who are Ripple members, have expanded their cross-border payments services. They also improved the speed of remittances and introduced contactless payment.
SBI Holdings is one of Ripple’s largest partners. confirmed Its participation in Project Agora is a large project led by the Bank for International Settlements and supported by seven central bankers.
The project will investigate the possibility of combining wholesale digital currencies from central banks with tokenized commercial deposits on one ledger.
Project Agora is a project that aims to improve the efficiency of cross-border payments by eliminating inefficiencies such as long transaction time and frequent checks for compliance.
🚨BREAKING: @RippleSBI Holdings confirmed their participation in Project Agora. This is a joint project led by Bank for International Settlements(BIS) with seven central banks. 👀
SBI CEO: #XRP By 2025. pic.twitter.com/cI5nClopDU
— JackTheRippler ©️ (@RippleXrpie) September 19, 2024
SBI Holdings’ role in Project Agora increases global impact
Project Agora has been one of BIS’s most ambitious initiatives, and it’s attracted over 40 people. financial Institutions, such as industry giants Visa MastercardSwift. This project is in its design phase and will run until 2025. A final report should be available at that time.
Ripple is gaining momentum in the world thanks to SBI Holdings’ cooperation financial ecosystem. Ripple has always been an advocate of updating payment systems. The involvement of its partners in high-level initiatives strengthens Ripple’s position as a leader in digital finance.
Ripple’s partner Tranglo, in addition to Project Agora has also expanded their services. They are targeting Brunei, as a way of providing faster, more secure and reliable remittances for migrant worker.
The following is a list of CNFThe expansion of the company into Brunei was a strategic decision to take advantage of the increasing demand for reliable and efficient services. financial The services are in high demand, especially by the many workers whose families depend on their remittances.
Instarem, another Ripple Partner, also made headlines for their integration of Apple Pay into the Amaze Card. This integration is designed to facilitate cross-border payments using mobile devices.
We have already discussed notedInstarem supports Ripple’s goal of changing global financial Infrastructure by allowing users to perform cross-border transactions using digital wallets.
XRP (Ripple’s native cryptocurrency) has also seen a dramatic increase. XRP currently trades at approximately $0.5869Up 2.54% In the last 24 hour. Daily transaction volumes for the coin have averaged $1.313 billion.
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