Share this article
Standard Chartered, Axis Launch Payments Service With Ripple Tech
Standard Chartered and Axis Bank have announced a new cross-border payments platform built on top of technology developed by Ripple.
By Brady Dale
Updated Sep 13, 2021, 7:11 a.m. Published Nov 22, 2017, 5:00 p.m.
Financial institutions Standard Chartered and Axis Bank have announced a new cross-border payments platform built on top of technology developed by Ripple.
Unveiled today, the platform – which will connect corporates between Singapore and India – will be accessible through Standard Chartered's Straight2Bank system. According to SC's release, the platform will allow users to see all fees up front, pre-validate transactions and thereby more quickly settle them.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
indicated that multiple banks, including Standard Chartered, have plans to launch a similar system across several countries next year. Further, the bank was one of a number of institutions of its kind to take part in a $55 million Series B round in Ripple in 2016.
Gautam Jain, who serves as managing director and global head of client access for Standard Chartered, said in a statement:
"The successful launch of our commercial cross-border payment service marks a significant milestone in the financial industry’s progress in applying distributed ledger technology for corporates."
Not included in the cross-border platform is Ripple's XRP digital asset. A spokesperson for the startup confirmed that SC and Axis are not using XRP to facilitate transactions between Singapore and India.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.
Ripples image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Why Dogecoin’s drop below $0.13 is drawing institutional attention
DOGE's short-term direction depends on holding above the $0.1290–$0.1280 zone, with $0.1300 as immediate resistance.
What to know:
- Dogecoin experienced a sharp selloff, losing 5.5% and breaking critical technical levels, which signals a shift in short-term market structure.
- The decline was driven by increased selling pressure amid weaker risk sentiment and thinner liquidity, with volume surging 267% above average.
- DOGE's short-term direction depends on holding above the $0.1290–$0.1280 zone, with $0.1300 as immediate resistance.
Top Stories
