Published by Finews Asia – 19th September 2016
Accelerating the bank’s digitisation agenda, Standard Chartered has made a strategic investment in Ripple, a leading distributed ledger company.
Standard Chartered first partnered with Ripple in December 2015 where it successfully completed a proof of concept to deliver the world’s first application of distributed ledger technology to enhance the overall security of trade finance invoicing.
Ripple a venture-backed startup with offices in San Francisco, New York and Sydney, provides global financial settlement solutions that enables banks to transact directly, instantly and with certainty of settlement.
Immense Experience
Banks around the world are partnering with Ripple to improve their cross-border payment offerings.
«Ripple is one of the most advanced distributed ledger technology companies in the industry with immense experience in financial services and compliance,» said Alex Manson, Global Head, Transaction Banking, Standard Chartered.
Observer Board Seat
The bank will be given an observer board seat at Ripple, allowing the bank the opportunity to drive future collaboration and developments in the industry and produce innovative client solutions across its businesses.
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