Money Transfer Companies Join the Payment Network of Ripple

A lot of new clients are still joining the distributed ledger-based payments network of Ripple – RippleNet. Ripple has secured a lot of partnerships in the last couple of month, and just yesterday, two other money transfer firms partnered with Ripple to join their network.

The Announcement of the Partnership

Announced on the 30th of May, two international money transfer firms – InstaReM (a money transfer company based in Singapore) and Sao Paulo (a BeeTech based in Brazil) – have partnered with Ripple to enable customer to benefit from the product of Ripple, which they say offers lower costs of transaction, transparency, and high transaction speeds.

This partnership will facilitate payments (which are based on blockchain) between Latin America and a group of other countries which are presently being served by InstaReM, including markets in Europe and Southeast Asia – stated in a release.

SEE ALSO:   Cardano (ADA) Price Prediction: Is Investing in Cardano Worth it in 2018? Should You Hold Your ADA? (Cardano News Today)

Pavani’s Comment

The CEO and founder of BeeTech – Fernando Pavani said: “this collaboration with RippleNet provides their clients with a one-stop shop experience, it also provides them with the ability to send money and access new suppliers across over sixty markets via xVia – a simple API connection.”

Other Partnerships

Also, amongst the recent partnerships with RippleNet is the Kuwait Finance House. The Kuwait Finance House recently signed up for RippleNet. Kuwait Finance House announced on the 26th of May that it was to use the service for cross-border payments, and it claims to be the first financial institution in Kuwait to partner with Ripple and join the network powered by blockchain.

SEE ALSO:   Keep An Eye On Ripple (XRP) From SEC About Whether XRP Is A Security Or Not-Sat Jun 23

In the month of April alone, at least six payment providers and banks have opted to use the numerous payment tools of Ripple, they all want to take advantage of the technology and improve the quality of their services. Coinone – a remittance service and exchange in South Korea – is among the six new firms that joined the network.

loading...

Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on smartereum.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither smartereum.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from smartereum.com.

SEE ALSO:   DASH price predictions 2018: The return is astronomical - USD / - Dash Price -Sat Jun 23

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!


Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!