XRP Ripple new partnership with UBS, end of SEC case - Brad Garlinghouse, LIVE Ripple Event

An international banking alliance is using the Ripple blockchain network technology for cross-border payments efficiency. Banks from Canada and Israel signed an agreement with National Australia Bank (NAB), Australia’s largest business bank, to improve the security and efficiency of their payment systems, share innovation strategies, and more.

Currently, the Ripple payment network works with worldwide financial institutions from over 55 countries. Their On-Demand Liquidity (ODL) service uses the digital asset XRP “to source liquidity during cross-border transactions, as an alternative to traditional systems.”

The Canadian Imperial Bank of Commerce (CIBC) and Israel’s Bank Leumi, recognized small business banks, are now using the Ripple payment network for cross-border transactions as a result of their alliance with the National Australia Bank.