Grants & Funding » Tellus Mater. Sustainable Money Working Group. Fidor Becomes First Bank to Use Ripple Payment Protocol. San Francisco-based decentralized payment network provider Ripple Labs has announced that German Internet direct bank Fidor is now using the Ripple protocol as part of its transaction infrastructure. With the announcement, Fidor has become the first bank to integrate Ripple’s payment protocol, allowing its customers to instantly send money in any currency in any amount through the bank’s money transfer products at a lower cost. The move is significant as it will allow Ripple to showcase how its unique open-source approach to payments can be used by banks to replace many of the common intermediaries in the industry, thereby passing on savings to partner institutions, and by extension, their clientele. Matthias Kröner, CEO of Fidor Bank, elaborated on the benefits of the new partnership, stating: “Ripple enables us to securely and instantly send money anywhere in the world at no additional cost and through the same customer facing products and relationships we offer today.”
More details. The Finance Innovation Lab. Secret Trade in Services Agreement (TISA) - Financial Services Annex. WikiLeaks Release of Secret Trade in Services Agreement (TISA) Financial Services Annex Consolidated Text (April 14, 2014) This Document Contains TISA- U.S.CONFIDENTIAL Information MODIFIED HANDLING AUTHORIZED* LIMITED Annex [X]: Financial Services Consolidation of text proposals as of 14 April 2014 *Working consolidated draft among the proponents as of 14 April 2014; draft is without prejudice to further proposals or positions of the proponents. Article X.1: Scope This section/Annex applies to measures affecting the supply of financial services [TR: subject to any conditions, reservations and qualifications inscribed in its Schedule of specific commitments.] Article X.2: Definitions For purposes of this Annex/section: A financial service is any service of a financial nature offered by a financial service supplier of a Party. [US: Article X.3: Scheduling Financial Services Commitments Market Access [EU, US: Article X.4: Standstill Article X.5: Monopoly Rights Article X.7: Commercial Presence 1bis.
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