Express

SBI Joins JPMorgan's Blockchain-Based Payment Network

Tracy CHEN

Summary: State Bank of India has tied up with JPMorgan to use the US bank’s blockchain technology to speed up overseas transactions.The tie up is expected to reduce SBI customers’ transaction costs and time taken for payments, sources said. Time taken to resolve cross-border payments-related inquiries can be reduced to a few hours from up to ...

State Bank of India has tied up with JPMorgan to use the US bank’s blockchain technology to speed up overseas transactions.
The tie up is expected to reduce SBI customers’ transaction costs and time taken for payments, sources said. Time taken to resolve cross-border payments-related inquiries can be reduced to a few hours from up to a fortnight, they said. This will help cross-border payments reach beneficiaries faster and using limited steps.

Tracy Chen

Last Update:

Tags: ,
Link: SBI Joins JPMorgan's Blockchain-Based Payment Network   [Copy]
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 3 hours ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 1 day ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 4 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 5 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 7 days ago
  • You need to login to comment.