Swiss Banks Embrace Instant Payments: Could XRP be Adopted?
Turn $100 USD To 3000 USD, 30X Profit Expected from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30, Don’t miss this opportunity; join the pre-sale at the official website (PlayAiGames.Online)
Switzerland has taken a step further in embracing crypto with the recent expansion of the instant payment scheme as other banks integrate XRP into their trading platforms. According to reports, 28% of banks in Switzerland allow or are planning to allow customers to invest in crypto.
According to an announcement by the Swiss National Bank (SNB) and financial infrastructure operator SIX Interbank Clearing Ltd, Switzerland has reached an advanced phase in its effort to leverage the power of instant payment schemes to go cashless.
In the SNB report reviewed by Crypto News Flash, about 60 financial institutions within the country currently can process and receive payment instantly (within 10 seconds). Interestingly, this makes up about 95% of the Swiss retail payment transactions.
The report further discloses that the first institution has launched its retail offering with several others expected to join in the coming months.
With this, experts believe that the financial economy could be boosted since private individuals and companies could perform account-to-account transactions around the clock.
This offers significant advantages for individuals, companies and commercial banks. Thanks to shorter settlement chains, risks are reduced and funds received are available immediately.
For companies and commercial banks, instant payments expand opportunities for automating processes and linking with other services.
Commenting on this, SNB and SIX disclosed that instant payment could be widely established in Switzerland in the medium term and could be a model for future related innovations.
