European banking group Rabobank is reportedly exploring options to deploy its own cryptocurrency wallet as it also conducts parallel trials with Ripple’s Xcurrent system and interledger protocols.
The Dutch bank has developed the cryptocurrency project under its internal “Moonshot” program and is now planning to launch a wallet “within its online banking environment”.
The move is likely to open the cryptocurrency space up to many more investors in Europe, paving the way for those who wish to hold cryptocurrency but either lack the technical know-how to create their own wallets or are reluctant to invest in assets outside of established institutions.
Rabobank previously launched a website to promote its potential Blockchain-based services and has stated its aim to evaluate the public interest towards implementation.
The bank has also implemented a trial of Ripple’s Xcurrent system, a software solution that enables banks to instantly settle cross-border payments with end-to-end tracking.
“Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles. It includes a Rulebook developed in partnership with the RippleNet Advisory Board that ensures operational consistency and legal clarity for every transaction,” a spokesperson for Ripple said.