Ripple has partnered with yet another large bank CIMB Group which is the 5th largest bank in Asia. CIMB Group announced that it will implement RippleNet Software to process cross-border payments. Ripple’s XRP has also crossed ETH and secured the 2nd position according to the market capitalization.
CIMB Bank to use RippleNet
According to sources, CIMB Bank is the 1st bank in Asia in order to implement blockchain technology in such a place where the payments are small in value but the amount of transactions is very high.
SpeedSend, which is CIMB Bank’s platform with use RippleNet to improve the transactional speed and costing for international payments.
XRP Crosses ETH
XRP which is Ripple’s native token has crossed ETH is terms of market capitalization. The Ripple Company says that their token XRP and Ripple are not interlinked but it is always seen that as Ripple extends its partnerships with banks over the world, the price and market capitalization of XRP tends to rise.