Which bank launched Blockchain-based International Payment Service?
A) HDFC Bank
B) Canara Bank
C) Axis Bank
D) ICICI Bank
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Which bank launched Blockchain-based International Payment Service?
Answer :-C) Axis Bank
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Answer:
Axis Bank has launched Blockchain-based International Payment Service.
Explanation:
In the last months of 2017 Axis Bank has started cross-border payments over the blockchain services. They Fintech Company Ripple’s technology for this purpose which helped them to cut costs and time in making a cross-border remittance.
Ripple’s technology reduced the time for international money transfer to 5-10 seconds from the previous system of 3-5 days.
The Blockchain is a shared digital ledger which is continuously updated with all transactions. This ledger keeps a record of each transaction.
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