HDFC: One of the largest private banks in India is now a Ripple customer

HDFC is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It has a base of 111,208 permanent employees as of 30 September 2019, providing a wide range of financial products and services to over 43 million customers. HDFC Bank is India’s largest private sector lender by assets. It is the largest bank in India by market capitalisation as of February 2016.

On an interview by Jay Kim on The Jay Kim Show that was filmed during Swell and was released on November 25th, Marcus Treacher (SVP of Customer Success at Ripple) revealed a few of Ripple’s customers.

“To answer your first question”, said Marchus Treacher, “I can call out SBI, SBI Remit, in Japan, a phenomenal partner of Ripple. Coinone in South Korea. It’s great; fantastically, tremendous partner. Ripple Siam Commercial Bank and Standard Charter Bank in hometown, Singapore. Many of the Indian banks we work with: IndusInd, Kotak, YES Bank, Axis Bank — recently one, HDFC in India, QNB in Qatar, Saudi British Bank in Saudi Arabia. We’ve got NCB, Saudi Arabia, Al-Rajhi Bank.”

Ripple has experienced tremendous growth in India, having signed Axis Bank, IndusInd, Kotak Mahindra, Yes Bank, Federal Bank Ltd and now HDFC.

Special thanks to Michael iPinky7 for reminding me to take a closer look at that segment of the interview.