Swedish bank SEB will soon enable customers to make real-time transfers between accounts in Stockholm and New York.
In statements, Paula da Silva, head of Transaction Services at SEB, expressed a desire to build connections with other banks and financial institutions as it seeks to use the technology more broadly in its operations.
Da Silva said:
While notable, Ripple is not the only startup in the industry backed by SEB. The Swedish bank also revealed it had invested $4m in bitcoin payment processor Coinify in August as part of its blockchain interest.
At the time, representatives for the company told CoinDesk it had made the investment as part of a bid to explore the technology and embrace the possibilities of innovation.
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