The service will be powered by the Ripple’s xCurrent distributed ledger technology which facilitates same day global payments.
Santander will soon be launching a mobile app in Q1 2018 for instant payments powered with Ripple’s xCurrent technology.
R3 CEV aims to raise $150 million with the third tranche of fundraising round scheduled for later this year.
JP Morgan has announced its exit from the bank blockchain consortium, thus becoming the latest banking giant to leave the initiative.
J.P. Morgan, Chase, Intel, Microsoft, Banco Santander and other firms have established an alliance to develop solutions for financial companies using Ethereum blockchain.
The cooperation is expected to contribute significantly to the overall development of Ethereum.
A blockchain startup R3 CEV is going to raise $150 million in its first funding round and some of its original members have already expressed their intention to invest.
Morgan Stanley can follow Goldman and Santander that have recently unveiled their plans to leave R3 consortium.
R3 CEV is starting fundraising with most of consortium participants expressing their interest in investing.
A number of the world’s leading banks have partnered to form Global Payments Steering Group, the first interbank group for payments based on the blockchain technology.
The banks are planning to develop a new digital cash to serve as a standard for financial trades settlement.
The San Francisco-based financial technology startup has announced partnerships with seven new banks to provide its blockchain platform for overseas payments.