American Express Partners With Ripple To Create An International Blockchain Payments Channel
American Express announced recently that they are creating a Ripple-based business-to-business payments channel that will allow businesses to settle payment transactions between United States and United Kingdom instantaneously.
The partnership will involved blockchain startup Ripple,American Express International Payments and banking company Santander UK.
The project aims to reduce the transaction times of international payments from days to seconds.
This will be done by routing non-card payments from the platform through RippleNet, minimizing the number of intermediaries needed to process the transactions and providing greater end-to-end transparency.
This project is a win for Ripple against its competitors Stellar and Swift who made similar partnerships with IBM and Hyperledger respectively.
Also, this project will revolutionize international payments between U.S. and U.K.
Fujitsu Launches New ConnectionChain Payment System
Japanese IT giant Fujitsu recently launched its new inter-blockchain payments technology which aims to handle transactions between Blockchain this November.
This payment system intends to a way for different cryptocurrency networks to inter-operate with each other.
Fujitsu said that the payment technology will be able to provide solution to issues related to settlements between cryptocurrencies by inter-connecting multiple blockchains & execute an automatic single transaction process.
The company plans to release the payment system to the market starting 2018 however it will depend on the outcome of the additional development and testing of the product.
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