Infosys today said it has set up India Trade Connect, a blockchain-based trade network in India, in partnership with seven lenders, including Axis Bank, ICICI Bank, IndusInd Bank and RBL Bank. The other partner banks include Kotak Mahindra Bank, South Indian Bank and Yes Bank. Continue reading Infosys sets up blockchain-based trade network in India with 7 banks
IndusInd Bank, which is based in India, announced its partnership with Ripple, the enterprise blockchain solution for Global Payments, to facilitate payments into and out of India. With this affiliation, RippleNet can now provide instant access in emerging markets such as India, Brazil and China.
IndusInd Bank plans to leverage the Ripple technology to build further on its existing payments business, because blockchain technology for payments reduces both cost and transfer time significantly. In 2017, India saw a total of $65 billion move into the country and IndusInd Bank, which has significant interests in cross border remittances, plans to harness the power of Blockchain technology for facilitating global payments. By joining RippleNet, banks can also communicate information about a payment between each other, and settle payments immediately. Continue reading IndusInd Bank ties up with Ripple for Global Payments