Ripple technology is used for instant international transfers from Malaysia

Malaysian bank CIMB has entered into a partnership with RippleNet to speed up remittances to countries in Southeast Asia. This company Ripple reported on the official website.

According to the bank, Ripple will expand the capabilities of SpeedSend, a proprietary money transfer system currently operating in the Philippines, Japan, Singapore, Thailand and India.

"We plan to make instant transfers on the Australian, American, British and Hong Kong corridors ," said the CIMB.

For his part, Ripple CEO Brad Garlinghaus noted that the implementation of the RippleNet blockchain solution will make bank payments more transparent, faster and cheaper.

What kind of payment solution from Ripple will use CIMB is not reported.

Recall that in October, the MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union companies immediately began the commercial use of the xRapid payment platform from Ripple.

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