PNC goes live on RippleNet
PNC has gone live on RippleNet, giving the blockchain company a major win in its effort to build a real-time cross-border payments network that includes large U.S. banks.
The bank had been working on its connection to Ripple for more than a year, and the deployment will allow consumers and businesses in the U.S. to receive real-time payments from outside the country.
PNC handles international payments through its correspondent network. It will continue to use that method in addition to using RippleNet.
Ripple has also partnered with MoneyGram and other global financial institutions to execute cross-border transactions without requiring third parties such as correspondent banks.