IndusInd Bank and Ripple tie up for Cross Border Remittances

IndusInd Bank has partnered with Rippled the enterprise blockchain solution for global payments, to facilitate payments into and out of India. With this affiliation, RippleNet can now provide instant access in emerging markets such as India, Brazil and China.

In 2017, India saw a total of $65 billion move into the country and IndusInd Bank which has significant interests in cross border remittances, plans to harness the power of Blockchain technology for facilitating global payments.
The Bank plans to leverage the latest technology to build on its existing footprint in the payments business through this alliance. Blockchain technology for payments lowers both costs and transfer times for their customers. Also, by joining RippleNet, financial institutions are able to communicate information about a payment between each other, and settle payments immediately.