Ripple News Today – Ripple has a keen interest in seeking prospective markets, especially in South America. Recently, an update by Ripple revealed a partnership between Ripple and CurrencyBird. Ripple announced that it has welcomed the first transfer company in Chile CurrencyBird to its global network, RippleNet. What does this move mean for Ripple, XRP, CurrencyBird, and the entire cryptocurrency market?
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Teofilo de la Cerda, Currency Bird Founder and CEO, said. “Being part of this worldwide network supports the work we have been doing since 2015, as an enterprise supported by Corfo, to offer our more than 12 thousand clients simple, safe, transparent and low-cost international transfers” The partnership was concluded in March and currently functioning through the Currencybird.cl platform. Although there is yet to be a specific payment model the company wants to use, the Daily Hodl thinks it’ll probably be Ripple’s payment messaging system xCurrent. Meanwhile, Chile’s firm is the first to launch on Ripple in the country.
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One of Chile’s famous money transfer firm, CurrencyBird, has re-incorporated RippleNet. The partnership is coming less than two months after Ripple opened its office in the region. The blockchain startup, which currently announced that it sold $251.1 million in XRP in the second quarter of this year, has also unveiled a new Brazilian office to give access to banks, payment providers, and corporations to use blockchain to perform instant payments globally.
According to Ripple news update, the partnership will ease money transfer and save cost as CurrencyBird offers 65% lower cost for cross border payment. The fund transfer company said it’s a great height for the company to join famous companies like MoneyGram American Express, Banco Santander and many more in transferring funds via the popular Ripple network.
According to CurrencyBird, the partnership with RippleNet will be beneficial to the 12,000 CurrencyBird’s customers globally. The firm announced that it will be adding new routes with RippleNet to its over 50 destinations. Banks and remittance institutions have been able to make swift and secure money transfers globally with the aid of Ripple blockchain technology solution.
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Stark Payments LTD is calling on traders and investors to start using their partnered platform with Ripple. They recently announced the testing of Ripple’s XRP on its blockchain platform.
Stark Payments has been involved in a series of partnerships with different cryptocurrencies to ease up business payments in XRP without hassle.
These partnerships started springing up after Ripple announced a $50 million investment with MoneyGram, a global money transfer firm believed to be the second-largest in the world. After the investment, the firm announced looking into xRapid, a cross-border remittance solution created to utilize XRP and use any currency in payment settlement.
While banks who use xRapid need not hold XRP as it can be transferred globally, the solution fixes almost all known remittance issues and proffer an affordable service compared to other remittance solutions used globally.
What do you think about the future of Ripple and the partnership with CurrencyBird? Share your thoughts about the Ripple news today in the comment section below.