PNC Bank Giant Joins Ripple's xCurrent Network
September 25, 2018
The US-based financial company called PNC initiated cooperation with organizations that are going to apply payment system by Ripple. The bank’s Treasury Management division will start accepting cross-border transfers via xCurrent system.
PNC is one of the America's largest banks by asset volume. The bank board has proven testing of the system successful.
The decision is likely to become one of the most crucial factors for small firms in the RippleNet. When executing a transfer users have their funds unavailable within two or three days yet Ripple is going turn things around.
Some users already get services with this system but their personalities are kept secret.
Meanwhile the organizations have contracted on applying the xCurret platform only but the developers hope the bank will take its interest in the хRapid project.
On September 19 Ripple reported that new payment corridors got available to all its customers in 40 states.
In addition few days ago it came to public notice that the launch of the next XRP-based commercial project is likely to happen in October.
The namesake coin Ripple, by the way, has again beaten the odds recently and pushed Ethereum away from the second position in the market cap rating.