Ripple partner reveals platform moves “a couple billion”, hints at usage of XRP-powered xRapid in future

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Paula da Silva, the Head of Transaction Services at SEB, a prominent Swedish bank, recently appeared on an interview to speak about the platforms continued use of Ripple’s technology for settlement between Sweden and the United States. She also mentioned that all the customers of the bank are utilizing the technology for transfers.

This news comes after their partnership with Ripple, which occurred late last year in November. At that time, the platform was set to be utilized for real-time transfers between the company’s headquarters in Stockholm and New York. At the time of launch, da Silva stated:

“By using Ripple’s distributed financial technology, our customers can initiate real-time transfers between their SEB accounts in Sweden and the bank’s branch in New York. This is a way to explore the potential of new technologies and an example of how we, by working with innovative technology companies, can be even more relevant to our customers.”

The bank’s customers seemed to have been satisfied with the results, as da Silva stated that all of their clients were engaging in transactions using the platform. In an interview with the Banker, she stated:

“Last year, there was only one customer on it then, now we have all customers of SEB doing inter-company transfers between Sweden and the US on the Ripple platform. So we have a couple billion going through that. We are trying to understand how that goes and what we would need to make it happen even better.”

She also stated that the bank would be exploring “the next step” of the partnership in the future, which may be a possibility of them utilizing xRapid, a technology which provides a substantial gain over their current usage of xCurrent. She went on to say:

“It’s really exciting and our IT people are all over this. I think its a good idea so I’m happy that business and IT are collaborating on something new.”

Marcus Treacher, Ripple’s Global Head of Strategic Accounts, stated:

“We’re really proud to be working with Paula and her team at SEB. Super results from a great customer and Ripple partner.”

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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.