THELOGICALINDIAN - The Indian fintech area has afresh been in the account a lot In yet addition anniversary accomplishment one of the arch cyberbanking academy ICICI has partnered with Stellar blockchain platform
In the latest release, Arch has announced partnerships with not one but four altered entities beyond the world. In accession to ICICI Bank, added platforms accommodate Coins.ph — a Philippines-based adaptable banking casework provider; Flutterwave — a pan-African banking platform; and Tempo Money Transfer — a French remittance account provider.
All the four companies will be application Stellar belvedere to ability affairs on their arrangement and beyond. ICICI Bank has appear affairs to use Stellar arrangement to abutment both calm and all-embracing money transfer. As a pilot program, ICICI Bank is accepted to barrage a Stellar based cross-border acquittal approach bare the accepted wire alteration fees. In addition, the cyberbanking above has additionally bidding its ambition to actualize a adaptable wallet belvedere based on cryptocurrency technology for use in university and appointment campuses.
“With blockchain technology, we are able to conduct business seamlessly with parties with which we had no above-mentioned relationships. Blockchain platforms such as Stellar.org are accouterment us with an automatic technology band-aid to authorize assurance after the charge for an intermediary… enabling us to conduct business a lot quicker, cheaper with lower absurdity ante and lower vulnerability to cyber threats. It is allowance us eradicate the charge for post-transaction settlements which are bulky and expensive. We anticipate blockchain technology arena a key role in cyberbanking in the years ahead.”
Similar to ICICI, Coins.ph’s account will accredit bodies to accomplish calm transfers to buzz numbers or accounts aural the Philippines. With Flutterwave and Stellar, M-Pesa users in African nations will be able to accomplish armamentarium transfers aural and above borders. And Tempo Money Alteration will action remittance casework for European customers, enabling them alteration funds beyond the apple through institutions affiliated via Stellar.
These cardinal partnerships are a two-way artery area all parties complex will account mutually.
