• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
Ripple

Why Top International Banks Partnered to Use Ripple Network

Julia Arvelaiz
by Julia Arvelaiz
3 years ago
·
Posted in Ripple
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

An international banking alliance is using the Ripple blockchain network technology for cross-border payments efficiency. Banks from Canada and Israel signed an agreement with National Australia Bank (NAB), Australia’s largest business bank, to improve the security and efficiency of their payment systems, share innovation strategies, and more.

Top Banks Use Ripple For Cross-Border Payments

Currently, the Ripple payment network works with worldwide financial institutions from over 55 countries. Their On-Demand Liquidity (ODL) service uses the digital asset XRP “to source liquidity during cross-border transactions, as an alternative to traditional systems.”

The Canadian Imperial Bank of Commerce (CIBC) and Israel’s Bank Leumi, recognized small business banks, are now using the Ripple payment network for cross-border transactions as a result of their alliance with the National Australia Bank.

The partnership is meant to enhance customer experiences by reducing costs, speeding up the payment service, and improving security. Reportedly, transactions that could have taken up to 2 days to become effective, can now be completed within minutes.

“We believe that the technology has the potential to not only deliver real time international payments, but also improved security and efficiency of our payments systems, so this is an important piece of work” said National Australia Bank (NAB).

The large Australian bank stated: “We’re excited to be working with CIBC and have already partnered with them in using Ripple’s blockchain technology to complete international payments transfers between our banks as a proof of concept.”

The financial institutions’ alliance is also expected to open new doors for each “to access first-class international innovation initiatives and insights,” NAB Executive General Manager NAB Labs Jonathan Davey said via the bank’s official announcement.

“Our customers want us to do things differently and strategic partnerships like this allow us to access ideas, talent and capabilities of like-minded organisations, in this case the opportunity to tap into two leading international banks, to help us gain world-class insights from global leaders to benefit our customers.”

The General Manager added that this is an opportunity for the institutions to develop solutions for common issues, as well as combine and leverage global knowledge and insights in order to “find ways to get in front” amidst the competitive and “rapidly changing world” of fintech.

Related Reading | Ripple Distributes 1 Billion XRP In Developer Grants, As Chief Developer Resigns

The Network Grows Despite Lawsuit

Despite the SEC vs Ripple Labs lawsuit, the company has been growing its reputation overseas and its several international partnerships.

The Ripple network is becoming popular in Australia. It is recognized by financial businesses and the company members work alongside the country’s authorities as they develop a regulatory framework on crypto.

Last year, the company proposed three principles upon which an Australian regulatory framework for digital assets should be founded. This was included and credited upon the Australian Senate’s “Select Committee on Australia as a Technology and Financial Centre” final report.

Related Reading | Ripple Consider Big Triumph Against SEC As Judge Declined Key Motion

According to RippleNet General Manager Asheesh Birla, the company ended 2021 with “a payment volume run rate of over $10B and expanded its On-Demand Liquidity (ODL) product to 22 destination markets.” He noted that the ODL product is near to achieving global coverage.

Birla believes the rapid growth is due to ODL’s “higher transaction speed and its more efficient use of capital,” in contrast with the traditional financial system.

Ripple
Ripple (XRP) trading at $0,84 in the daily chart | Source: XRPUSD on TradingView.com

 

 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Julia Arvelaiz

Julia Arvelaiz

Follow

Full Profile

Related Posts

Ripple

Ripple Meets With US And US Government To Talk Crypto – Here’s What Happened

12 hours ago
Ripple

XRP News: What SWIFT’s ISO 20022 Announcement Means In Its Race With Ripple

1 day ago
Ripple

Ripple’s Technology Powers New Deal With DBS Bank And Franklin Templeton

2 days ago
Dogecoin ETF news

Bloomberg Analysts Hint at XRP and Dogecoin ETFs, Here’s What It Means for Investors

4 days ago
XRP price

Forget Ripple Vs. SWIFT, BRICS Nations Are Building On XRP Ledger With Their Central Banks

1 week ago
XRP

Ripple Strikes New BBVA Deal To Enter Spain — Here Are The Details

1 week ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    2 days ago
  • ตัวละครสัตว์ Snorter หน้าตลกโผล่พ้นกำแพงอิฐ

    นักลงทุนแห่เข้าซื้อ...

    2 days ago
  • Little Pepe ($LILPEPE) presale crosses $25 million milestone as investors eye exchange listings and meme coin Layer-2 blockchain growth.

    Little Pepe Presale Surges Past $25M as Stage 12 Sells Out...

    3 days ago
  • As Demand Grows for Ease, MEXC Adds Apple Pay and Google Pay for Instant Crypto Purchases

    As Demand Grows for Ease, MEXC Adds Apple Pay and Google...

    3 days ago
  • Whales Buy Nearly $100K of $HYPER — Is This the Next 1000x Crypto?

    Whales Buy Nearly $100K of $HYPER — Is This the Next...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.