Categories: Cryptocurrency News

PNC Bank joins Ripple, becomes the first US Bank to use blockchain

The blockchain community has grown strong, as PNC Bank, one of the top ten banks of the United States of America, joins it. The bank has joined the growing blockchain RippleNet by Ripple. Furthermore, It has become one of the 100+ financial institutions that have come onboard the RippleNet blockchain.

What will be the impact?

PNC Bank took the step to facilitate instant real-time payments in and out of the country. This will impact over 8+ million customers of the bank, which has branches in over 19 states. Furthermore, the customers it will impact vary immensely, from individuals to small businesses and large corporates.

Most noteworthy, it will help all these diverse types of customers to make and receive payments, in instantly in real-time from banks outside the country. These will revolutionize the process of account management, as payments can be delivered instantly as soon as the invoice is issued.

Ripple announced on an official post, stating that, “Now, a commercial client in Pennsylvania receiving a payment from a UK buyer will be able to receive payments against their invoices instantly, transforming the way they manage their accounts receivable and allowing them to better manage their working capital.”

The power of blockchain and RippleNet

Ripple is on the bullish move. It has been getting everyone on board the blockchain experience. Furthermore, PNC Bank, as stated, is one of the 100+ financial institutions to join the platform.

RippleNet has extended its reach, ever since it has launched, and has been growing exponentially. Furthermore, RippleNet has gotten itself into 40+ countries on the six continents of the world with this move.

Also, RippleNet stated, “The bank joins some of the world’s leading financial institutions on the network. It includes Banco Santander, American Express and the SBI led, japan bank consortium to name a few.“.

 

Share
Published by

Recent Posts

Tomarket App – A Guide to $TOMATO Airdrop, Farming and Web 3.0 Drop Event

Tomarket, Telegram's mini-app hits 20+ million all-time users and 8.8+ million daily active users. Tomarket…

2 months ago

Binance Lists Decentralized and Open L1 Blockchain Toncoin (TON) on its Platform

Cryptocurrency exchange Binance, today announces the listing of Toncoin on its platform. Toncoin is a…

3 months ago

iGaming Platform BC.GAME Signs $40 Million Deal to Become Principal Partner of Leicester City

The iGaming platform BC.GAME has signed a landmark $40 million deal to become the "Official…

4 months ago

Coinbase faces new lawsuit that claims SOL, MATIC, NEAR, MANA, ALGO, UNI, XTZ and XLM are securities

Coinbase crypto exchange and its CEO, Brian Armstrong, faces a new lawsuit that claims Solana,…

6 months ago

Service Beyond Gaming: The Support Experience at HugeWin

In the world of online gambling, the quality of customer service can make or break…

7 months ago

Bitcoin (BTC) Cycle: Aiming for $155,000 Peak by August 2025

Since its launch in 2009 Bitcoin has experienced several cycles characterized by bull and bear…

7 months ago

This website uses cookies.