Ripple Labs has revealed FX Market Making for real-time settlement of forex trades and reduced counterparty risk. The funding brings Ripple’s Series A total to $32 million, following a $28 million round in May. It has also announced Cross-currency Settlement which provides correspondent banks with a low-cost alternative for international money transfers. The company is working on the development of its own blockchain based payment system called XRP Ledger. A handful of institutions are understood to have already adopted Ripple's protocol and several others have confirmed that they are considering doing so. Earlier this week, as reported in our briefings, Ripple announced that it has received $4m in funding from Santander InnoVentures, bringing its Series A funding to a total of $32m.
Ripple Labs has revealed FX Market Making for real-time settlement of forex trades and reduced counterparty risk. It has also announced Cross-currency Settlement which provides correspondent banks with a low-cost alternative for international money transfers. The company is working on the development of its own blockchain based payment system called XRP Ledger. A handful of institutions are understood to have already adopted Ripple's protocol and several others have confirmed that they are considering doing so. Earlier this week, as reported in our briefings, Ripple announced that it has received $4m in funding from Santander InnoVentures, bringing its Series A funding to a total of $32m.