Rabobank and D+H Team Up to Revolutionize Cross-Border Payments with Blockchain

Testing Blockchain If It Works

In a significant leap toward modernizing financial operations, D+H, a multi-billion dollar financial services titan, has teamed up with Rabobank, the Dutch banking behemoth, to test a proof-of-concept Blockchain solution. The ambition? To transform how cross-border payments are executed, making them not just faster, but also cheaper than a cup of coffee on a Monday morning.

What’s Cooking in the Blockchain Kitchen?

This dynamic duo recently shared that their preliminary trials utilizing Coin Sciences’ multi-chain Blockchain were, shall we say, pretty successful. They claim to have gathered enough evidence showcasing that this new Blockchain marvel can process cross-border payments in real-time.
“We have seen meaningful results that tell us that further exploration of Blockchain functionality is worthwhile,” says Heimen Schuring, Rabobank’s Head of Channel Support & Payment Engine. Note to self: If a banking executive says it’s worthwhile, that’s big.

Helping Banks With Transparent Blockchain Networks

While the fine details of their recent escapades remain under wraps, Rabobank has intimated that this Blockchain solution could cater to financial service providers managing trillions in trade volume. Imagine instantaneous, low-fee transactions that leave unnecessary costs in the dust.

A Secret Club for Banks?

There’s talk among the powers at Rabobank about forming a closed group or committee of banks to maximize the benefits of their Blockchain technology. Perhaps like a secret society, but with more financial regulations and a lot less cloak and dagger.

A Journey Since 2014

Since jumping on the Blockchain bandwagon back in 2014, this marks Rabobank and D+H’s first thorough run with the technology. They understand the blockchain’s extraordinary potential but also the importance of balancing efficiency with consumer benefits. After all, no one wants to be stuck in a payment limbo.

Looking Ahead Together

As this partnership progresses, D+H will remain at Rabobank’s side like a seasoned co-pilot. Moti Porath, Head of Product Management for Global Payments Solutions at D+H, asserts, “Leveraging D+H’s global payments hub solution, the bank recognizes that cross-border payments can be made in a more efficient way… with certainty and convenience.”
This sounds promising, but let’s keep the enthusiasm in check until more details emerge.