Sri Lanka’s strongest bank will use RippleNet.
Hatton National Bank (HNB), considered the most powerful and technologically advanced bank in Sri Lanka, has achieved a 15% increase in digital transfer transactions compared to a year ago and wants to evaluate this increase. It was stated that RippleNet will use blockchain-based solutions to cope with the increase in the statement made by bank officials.
RippleNet Continues to Grow
HNB stated in its last digital transfer report that it published, especially in the last 3 months, there was a 10% increase through ATMs. Stating that the transactions mostly come from East Asia and Middle East countries or are sent here, HNB experts stated that they will make the use of RippleNet network much faster and cheaper.
Ripple, behind the fourth largest cryptocurrency currency XRP by total market value, is also known to have a blockchain-based giant payment network. It is known that the number of RippleNet member financial institutions exceeds 300 and this shows that it has become a competitor to traditional companies such as SWIFT.
Ripple’s blockchain-based products such as ODL allow both to be transferred instantly and to be sent at almost zero cost compared to SWIFT. Advantages like this allow more banks to join the network day by day.