Blockchain Technology to Save Financial Institutions $10 Billion in Cross-Border Payments by 2030

Blockchain Technology to Save Financial Institutions $10 Billion in Cross-Border Payments by 2030



A report jointly released by Ripple and the US Faster Payments Council on July 29 indicates that blockchain technology has the potential to save financial institutions approximately $10 billion in cross-border payment expenses by 2030. The report is based on a survey of 300 finance professionals from 45 countries, spanning fintech, banking, media, consumer technology, and retail industries. According to these professionals, blockchain technology will play a crucial role in accelerating payment systems, reducing cross-border payment costs, and improving transaction speed within the next three years.



Furthermore, a recent study conducted by Juniper Research supports the notion that banks adopting blockchain technology within the next six years can achieve significant cost savings. Over half of the survey respondents identified lower


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