Ripple reveals new financial institution using xRapid and can win new partner
Ripple’s software solutions xCurrent and xRapid find more and more users all over the world. Ripple has unveiled another partner in a compilation that relies on xRapid and its advantages. Another large payment service provider joined RippleNet yesterday.
Ripple’s list of partners is long, but so far there were only 3 companies officially known to use xRapid. In a new overview of the software and its potential, the company Viamericas was surprisingly named (freely translated):
Global payment providers such as Viamericas, Cuallix, IDT, MercuryFX and others use xRapid to significantly reduce their liquidity costs and send real-time payments – an industry first.
With xRapid, RippleNet customers have saved up to 70 percent of the typical cost of a transaction. XRP processing takes only three to five seconds.
Ripple had introduced xRapid as a commercial product at the recent Swell 2018 crypto conference in San Francisco. Viamericas is one of the largest payment service providers in the United States with over 76,000 locations. The company is active in more than 29 countries.
Independent of this, another heavyweight in the financial industry joined RippleNet yesterday. MoneynetInt has joined the network to take advantage of the opportunities and potential of blockchain technology.
As of today, we are proud to announce that @MoneyNetInt has joined #RippleNet ! Joining @Ripple and their Global Payment Network will allow us to process customers’ #payments anywhere in the world #instantly , #reliably & cost-effectively! #fintech #ecommerce #paymentsolutions pic.twitter.com/KSOCwIssLc
– MoneyNetInt (@MoneyNetInt) October 16, 2018
The company sees this step as an enrichment for their customers, as both costs and transaction times can be reduced (freely translated):
For Moneynetint, collaboration is a big step in the ability to offer its customers advanced services by opening up additional corridors and opportunities that were not available in the past or for which they did not have a reliable or cheap solution. Commitment to a broader customer base while minimizing risk is an important step.
Moneynetint is a UK payment service provider that offers both individuals and businesses the opportunity to send money around the world at low cost.
The RippleNet continues to grow and clearly shows that more and more companies have recognized the need to throw old traditional technologies overboard and try out the blockchain as a promising new discovery.
We are curious to see what further developments can be observed in this field. Ripple’s share price has recorded a minimal price increase of +4.12 percent to a price of 0.4096 euros within the last 24 hours.
