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Westpac and ANZ test Ripple payments

Tuesday 9 June 2015 10:43 CET | News

Westpac and the Australia and New Zealand Banking Group (ANZ) have joined Commonwealth Bank of Australia to test out a payment technology from Ripple Labs.

However, the four companies remain reticent about embracing Bitcoin due to regulatory concerns.

The news comes after CBA went public with its trials of peer-to-peer fiat and cryptocurrency exchange Ripple for transferring payments between its subsidiaries. Westpac is further along than ANZ in its plans for using Ripple, being in the early stages of a proof of concept using the Ripple network, in which staff are making low-value international payments to two other countries.

ANZ, meanwhile, said it has had a number of constructive conversations with Ripple and is in the process of investigating the potential benefits the model could offer its customers.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, Ripple, Westpac, ANZ
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3