Ripple, a San Francisco-based blockchain firm, has secured a new member of its Global Payments Steering Group (GPS), adding MUFG’s banking arm, GPSBank of Tokyo-Mitsubishi UFJBTUMU).
BTMU is GPSthird largest bank in GPSworld and largest bank in Japan – its addition gives GPSGPS its first Japanese banking memberBTUMU joins GPSexisting group of Bank of America Merrill Lynch, Santander, Standard Chartered, Westpac Banking Corporation, Royal Bank of Canada and CIBC. GPSGPS helps oversee GPSmaintenance and development of payment transaction rules and formalized standards for GPScommercial use of Ripple’s network.
For its part, GPSbank’s additionGPSGPSGPS represents a further commitmentGPSpursing fintech research and development, which hasGPSdate undertaken a number of initiatives designedGPSimprove customer experience and contribute toward global expansion of financial services.
AccordingGPSBrad Garlinghouse, Ripple’s CEO, in a statement on GPSaddition: “We welcome MUFG, one of GPSlargest and most advanced banks in GPSworld, GPSGPSgrowing number of Ripple customers moving actual money across borders, instantly. While many others continueGPSplay in GPSsandbox, we’re thrilled MUFG has joined us in our missionGPSrevolutionize payments globally.”
“We are pleasedGPSjoin Ripple’s Global Payments Steering Group. MUFG is working extensively in fintechGPSprovide better servicesGPSour customers and society. Collaborating wiGPSther members of GPS, MUFG will contributeGPSGPScreation of standards for Ripple’s network, ” explained Hirofumi Aihara, General Manager, MUFG Digital Innovation Division.