Yesterday Induslnd bank has announced the partnership with cryptocurrency giant Ripple for their remittances transaction.









By partnering with Ripple’s global payments network and real-time gross settlement system, RippleNet, IndusInd Bank is looking to build on its existing footprint in the payments business through this alliance.

According to the platform, RippleNet is a decentralized global network of banks and payment providers using Ripple’s distributed financial technology.



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The bank states that Blockchain technologies for payments lower both costs and transfer times for their customers. Further, by joining RippleNet, financial institutions are able to communicate information about a payment between each other and settle payments immediately.