Euro Exim Bank is a registered and regulated UK-based bank that has announced it will use Ripple’s xRapid software and the cryptocurrency XRP for cross-border payments. This is one of several new banking partnerships that Ripple revealed in 2019. At this point, it is working with over 200 banks and financial organizations.
Ripple’s blockchain software is like other blockchain platforms in that it can provide transparent and real-time visibility of transactions to all stakeholders. For those with access to the blockchain ledger, there is no need to email queries or check confirmations. Stakeholders can simply check a link to the transaction which is immutably recorded on a blockchain network.