Deutsche Bank Expands Ripple Tech for Faster Cross-Border Payments
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Deutsche Bank expands the use of Ripple technology for cross-border payments and digital asset custody, targeting faster settlement times. The initiative aims to streamlining financial processes that are currently slow and costly, with SWIFT collaborating on a blockchain project involving over 40 banks.
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- Deutsche Bank expands Ripple tech across payments, FX flows, and digital asset custody within operations.
- Ripple-based rails aim to cut cross-border settlement from days to seconds via direct transfers.
- SWIFT names Deutsche Bank a lead architect on a blockchain ledger project with 40+ banks.
Deutsche Bank is seeking to expand its use of technology from the Ripple network as part of an effort to update the processes behind global money transfers, according to the information provided.
The Frankfurt-based bank’s focus spans cross-border payments, foreign exchange workflows, and digital asset custody. The effort targets parts of international finance that are often described as slow, opaque, and costly, particularly when value moves through chains of correspondent banks rather than directly between parties.
Faster Settlement and More Direct Transfers
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