JPMorgan Plots Blockchain Payments to Fight Transferwise, Ripple Threat

By CCN.com: Wall Street firm JPMorgan has a plan to save the banking industry’s lucrative cross-border payments business from alternatives such as Bitcoin and fintechs such as Ripple and TransferWise – expand the use cases for its permissioned blockchain network, the Interbank Information Network (IIN) to include settling payments. According to the Financial Times, plans are underway to add a payments settlement feature to the IIN. The feature will allow payments being made to be verified in real time as they are being routed to a valid account. This will eliminate delays or cancellation of transactions which is usually caused

The post JPMorgan Plots Blockchain Payments to Fight Transferwise, Ripple Threat appeared first on CCN

Leave a Reply

Your email address will not be published. Required fields are marked *