Ripple Net Cross-border Payment Pilot Test

On May 15, 2018, Mitsubishi Corporation and Standard Chartered Bank jointly announced the launch of a pilot test and plans to transfer funds on Ripple Net, aiming to achieve rapid remittance at a lower cost, making cross-border payments more convenient and further improving, further increasing the capital efficiency of the enterprise group, and committing to practical use within a few years.

Based on the results of this pilot test, the companies will further improve the commercialization of cross-border payment solutions and collaborate on various innovative projects. Mitsubishi and Standard Chartered Bank have been working together on how to use new technologies to improve the internal financial efficiency of the company. Both parties have launched a multicurrency real-time interbank platform project to improve cash management. This test is the first achievement of this joint project.


So far, Ripple's platform has been tested many times. Their solutions (xCurrent, xRapid and xVia) are powerful and reliable. Compared to the unknown Blitzcash ( blitz), although Blitzcash is much faster than current commercial banking systems, it is still far from Ripple in all aspects. This is why Ripple and their coins ( xrp) have been adopted by more banks and financial institutions.


These new partnerships will be an important milestone for Ripple. It is also a major factor in the long-term development of Ripple. And I hope that these cooperations will also bring some positive impact on the ripple coin value.