Crédit Agricole tests Blockchain technology with Ripple for money transfers

Several entities * of the Crédit Agricole Group are currently experimenting with Blockchain technology to facilitate money transfers including a foreign exchange transaction and thus improve the daily life of their border customers. Thanks to the Blockchain developed by Ripple, the 90,000 customers of the Regional Banks and Credit Agricole next bank (CANB) in Switzerland will be able to transfer their salary in Swiss francs to their French bank account in just a few minutes, compared to three days now. This transfer can be controlled directly via a mobile application. The Blockchain will also enable real-time settlement of transactions, greater transparency of the exchange rate applied to the transaction and reduction of structural costs.


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