Ripple update: Ripple has a 50% stake in the Flash Banking index
If you’ve ever made an international financial transfer, you’ll be aware that it can take several days to process, that you will be charged a substantial commission, and that the local authorities may refuse to release the payment for a multitude of reasons.
Blockchain technology solves the problems of existing international interbank systems, such as SWIFT. Projects built on blockchain technology introduce a fundamentally new level of reliability, scalability, simplicity, and operational efficiency in clearing and settlement systems.
>For example, the Ripple system has a processing speed of about 70,000 transactions per second. By comparison, SWIFT processes about 2.5 billion transactions annually – equal to about 200 transactions per second.
The index includes projects that provide blockchain-based solutions for financial institutions.
[Flash Banking Index](https://icu.me/indices/banking)
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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