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SDK.finance Startup To Use Blockchain From Oracle

14:01 14/02/2019
Fintech Startup To Use Oracle Blockchain For Fast Payments

SDK.finance, a financial and technological startup from the Czech Republic, signed a cooperation agreement with Oracle to apply its blockchain platform in the work, as follows from Oracle's press release.

 

SDK.finance is the startup offering money transfer services for banks and other financial establishments. In 2015, it was acknowledged as the best-in-category in Europe at European Startups Awards, and in 2018, the firm surpassed all competitors in matters of API endpoints.

 

The purpose of Oracle’s platform is to upgrade the remittance system and eliminate numerous intermediaries from it. With its help, SDK.finance intends to speed up payments and make them cheaper and more protected. Oracle’s blockchain will help the Czech startup to reduce the time of international transfers to a few seconds and cut commission payments significantly.

 

When concluding the partnership agreement, Frank Xiong, the VP of the platform, stated that DLT would help reorganize the system of digital payments and improve significantly their interface, safety, speed, and cost.

 

Cross-border payments are still slow and costly in many cases, and the Oracle platform will help eliminate these weak points, Pavel Sidelov, the technical director of SDK.finance, stressed.

 

As previously reported, the Ripple crypto platform will help the Japanese SBI Holdings in international money transfers.

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