Vietnam’s TPBank (Tien Phong Commercial Bank) has joined the RippleNet payment network to make faster international payments.
TPBank will be the first Vietnamese bank to use blockchain for international transfers. As representatives of TPBank emphasized, customers will be able to transfer funds from Japan to Vietnam in a few minutes instead of a few hours. In the near future, payments from South Korea will also go through RippleNet.
The RippleNet payment network includes more than 200 financial institutions from around the world. RippleNet allows participants to exchange payments almost instantly and with lower fees than with conventional bank transfers. In February this year, the second largest Omani bank, BankDhofar, joined the RippleNet network.
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