The Securities and Exchange Commission last week accused Ripple of breaking securities laws, raising questions about the future of banks' ties with the company.
The company did not disclose the nature of the suit, but CEO Brad Garlinghouse has long disputed the Securities and Exchange Commission's claim that XRP is a security, not a currency.
PNC has gone live on RippleNet, giving the blockchain company a major win in its effort to build a real-time cross-border payments network that includes large U.S. banks.
The firm wants to expand its acceptance in the United States only to accommodate Chinese tourists, a company official said Thursday. But the CEO of a U.S.-based payments firm expressed skepticism.
JPMorgan's blockchain effort could lead to solutions that overcome industry skepticism and regulatory concerns and perhaps attract more mainstream retail interest.
JPMorgan is prototyping its own digital currency to be used for cross-border payments and, later, other purposes. Will banks find this a palatable alternative to today's most well-known options?
