R3 Member Nordea Bank CEO Eulogizes Ripple, XRP and R3 Consortium

R3 Member, Nordea Bank CEO Eulogizes Ripple Technology As A Major Driving Tool In The Firm

The credence which Ripple blockchain technology is garnering in the fintech industry seems not to be increasing day by day, as the firm got another praise. This time around the accolades came from the CEO of Nordea Bank, Casper von Koskull.

While speaking at an interview on the application of blockchain technology in payments, where he focused on Ripple, XRP, and the R3 Consortium, von Koskull stated that blockchain technology has made their services more efficient.

He said that payments which is a major focus of Nordea Bank is one of the most prevalent financial services network in the county which is found in Europe. He added that this made the financial organization adopt the technology, adding that they now have:

“faster and cheaper payments based on blockchain technology”.

Von Koskull, while conversing with a newspaper based in Finland, Kauppalehti, said blockchain technology is a crucial tool for the organization.

“Ripple has already launched its own technology, which is being introduced in Japan. Everything is done in cooperation with banks, such as the R3 consortium. It is of enormous importance to us,” Koskull told Kauppalehti.

Apart from the likes of HSBC, Citibank, Goldman Sachs and Deutsche Bank which are part of the network of the Distributed Ledger Technology firm, R3, the company also run Nordea as part of its networks.

Sometimes ago, R3 ran into a legal problems with Ripple and it was solved around September.

A representative of the R3 firm told Coindesk in a statement that:

“R3 HoldCo LLC, R3 LLC, Ripple Labs Inc. and XRP II, LLC announce that they have reached a settlement of all outstanding litigation between the parties. The terms of the agreement will remain confidential and both sides look forward to putting these disputes behind them.”

What made people think R3 and Ripple have reached out for an agreement is that it was stated in the report that R3 co-operates with the blockchain firm and it has billions of XRP unit.

A Redditor, Oisolberg, in line with the argurment said:

“SBI probably had a stern word with both Ripple and R3 about their stupid lawsuit issues, if the original R3 customers are still onboard this is absolutely massive. SBI invested 107 million USD in R3 in 2017.”

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