Credit Agricole joins Ripple's blockchain network, starting to work on a real-time capital transfer system, which will be in the testing phase in the next six months.

One of the most important cryptocurrencies on the market is Bitcoin, but among the most prominent is Ripple, which is among the most important at the moment. The good moment of this cryptocurrency is attracting many entities. A few days ago we learned about the entry of IDT Corporation and MercuryFX, in addition to South Korean and Japanese banks, MoneyGram and other banking and trust entities. Now one of the most important French banks, Crédit Agricole, has started to test the XRP blockchain technology to speed up payments and offer a better service.

This new addition to the association, based in San Francisco, allows to improve the value of this blockchain technology, which is becoming essential for banks, financial institutions and money transfer companies. Regarding the incorporation, the French bank itself has stated that: 'In order to improve the customer experience, Crédit Agricole is testing a solution aimed at simplifying and accelerating cross-border credit transfers carried out by its clients working abroad. . '

 By using the blockchain of this cryptocurrency, it is intended to offer users:

• Settle transfers in local currencies, directly from bank to bank.
• Settle transactions in real time.
• Keep an infallible, time-sealed record available in real time.
• Ensure transparency and reduce transfer costs (exchange rates)

The test will last six months and will be in charge of Credit Agricole Payment Services. This process will cover the transfer of salaries in Swiss francs for some cross-border clients, between the regional bank of Crédit Agricole des Savoie and the Swiss bank of Credit Agricole Next Bank. In addition, Crédit Agricole and Ripple will present the bets and challenges of the test at the Paris Fintech Forum on January 30, which is naturally held in Paris.