One of many advantage of Ripple is it can be used for remmitence businesses for the Bank, for example Malaysian bank CIMB has partnered with RippleNet to speed up remittances to countries in Southeast Asia.
According to the bank, Ripple will expand the capabilities of SpeedSend, a proprietary money transfer system currently operating in the Philippines, Japan, Singapore, Thailand and India.
"We plan to make instant transfers on the Australian, American, British and Hong Kong corridors," stated the CIMB.
Ripple CEO Brad Garlinghouse noted that the implementation of the RippleNet blockchain solution will make bank payments more transparent, faster and cheaper.
What kind of payment solution from Ripple will use CIMB is not reported.