- PNC is based in Pittsburgh, Pennsylvania but operates in at least 19 states in the US.
- RippleNet will enable instant international transfers for PNC.
One of the largest banking giants in the United States PNC has announced that it has joined Ripple’s banking network RippleNet. RippleNet is a blockchain payment network that connects banking institutions.
PNC is based in Pittsburgh, Pennsylvania but operates in at least 19 states in the country. The banked is ranked the 8th largest in the US and boasts of 2,459 branches and a network of 9,051 ATMs.
RippleNet is set to benefit immensely from the bank’s 8 million customers base. According to PNC’s spokesperson, PNC Treasury management has gone live on RippleNet. The spokesperson said:
“[Using RippleNet will give us] the ability to receive a payment from an overseas buyer against their invoices instantly, transforming the way they manage their global account receivables and allowing them to better manage their working capital.”
Read more: Ripple market update: XRP/USD reversal rides on improving technical levels
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