Fidor Bank AG selects Ripple Protocol

Thursday 8 May 2014 14:01 CET | News

Ripple Labs, an online financial transactions company, has partnered Fidor Bank in order to provide the bank with Ripple global settlement protocol.

With Ripple, Fidor customers can send any amount of money in any currency via existing Fidor money transfer products. Customers are not required to hold separate Ripple accounts. Moreover, The German bank will use its Ripple implementation to power inter-bank payments with other institutions and intra-bank payments between branches.

Fidor is the first bank to adopt an open payment protocol and one of a growing number of accredited financial entities deploying Ripple for real-time settlement. Ripple is an open-source, distributed payment protocol. It enables real-time payments with no chargebacks and in any currency, including USD, CNY, EUR, Bitcoin, and even loyalty points.

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Keywords: Fidor Bank AG, Ripple Protocol, financial transactions, bank, global settlement protocol, protocol
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce