• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Institutions keep investing in the blockchain group R3, will XRP benefit?
R3 Blockchain XRP

Institutions keep investing in the blockchain group R3, will XRP benefit?

June 30, 2019 by Naveed Iqbal

About five years ago, everything may have seemed unthinkable, but now crypto tokens are almost all over in R3. Things are moving really fast, and for R3, a start-up that develops blockchains for banks, everything is going beyond expectations. Before we move on, let’s not forget that the blockchain firm in question boasts some ambitious plans for XRP.

For some, a key highlight might have been the investment made in R3 by CLS – a provider of foreign exchange settlement with the current worth of $5 million. Experts believe CLS’s investment in R3 was an excellent move, which only meant that the products and services were made faster, safer, and more cost-effective for users.

Countless Institutions have invested in R3 already

Several banks have turned to invest in building blockchain prototypes of which many are for the KYC requirements for the AML as well as prototypes for reducing the cost of exchanging money.

The main agenda is to overcome various challenges, and some of the challenges include security of private information alongside the regulatory gray zone of the cryptocurrencies.

The innovative blockchain company, R3, has built a consortium that has over 75 of the globe’s leading financial institutions integrating and taking advantage of the new blockchain technology. Among the plethora of institutions include HSBC, The SBI Group, Bank of America Merrill Lynch, ING, Banco Bradesco, Intel, MUFG, Citi, Wells Fargo, BNP Paribas, Barclays, Itau Unibanco, Natixis, Mizuho, Sumitomo Mitsui Banking Corporation, Daiwa Securities Group, Nomura, and the mighty RBS.

https://twitter.com/stuart_xrp/status/1145094152314589184

R3 aims at improving the cross-border exchange, lower cost of auditing as well as enhance the speed of the interbank fund transfer and settlements.

The firm boasts three main pillars. First of them is financial-grade blockchain, whereby R3 has the base layer tech which supports the needs of a global financial institution. Secondly, it has research and development whereby R3 has a bilateral research center testing as well as creating industry standards for the commercial-grade blockchain technology. The blockchain company’s third pillar is product development, where R3 collaborates with institutions in creating products to solve problems in the value chain.

R3’s Corda is a distributed ledger blockchain platform for the financial institutions to manage as well as synchronize the commercial agreements between the regulated financial institutions.

https://twitter.com/V8staffie/status/1145213947097825280

Interestingly, R3 started integrating XRP last year already. And now there are reports that it visions to use XRP for the commerce. There also are rumors that the blockchain firm is working on a real estate application which will support XRP for the payments.

Ironically, all those news and many other exciting ones have failed to lift the XRP price till now as the cryptocurrency dances around $0.40 mark for some time now.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Altcoin News Tagged With: Blockchain, Ripple (XRP)

Primary Sidebar

Recent Posts

  • New Crypto Policy: Fed Reserve Promotes Level Playing Field For Banks January 29, 2023
  • Ethereum Poised For Growth In 2023: Experts Predict March Upgrade & Q4 Hot Spots January 29, 2023
  • Polygon Network Takes Second Place In Daily Active Users, Surpasses Ethereum January 28, 2023
  • Cryptocurrency Hazards: White House Outlines Plan To Mitigate Risks In New Framework January 28, 2023
  • Cardano Wallets Grow With Over 50k Added Since Jan.1 January 28, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.