Gross settlement system Ripple announced that money transfer company Ria Money Transfer, a subsidiary of payment service provider Euronet Worldwide, joined its RippleNet payments network to start using Ripple’s money transferring technology.
Ripple says their purpose is to help Ria “settle transactions with increased speed, transparency and efficiency and deliver a better experience to their customers.” According to Ria’s website, the company with USD 40 billion in money transfer volume per year has a worldwide agent network of 369,000 locations in 149 countries, and they’ve been in the cross-border money sending business for over 30 years. According to the announcement, Ripple’s technology will now allow them faster processing times, along with end-to-end tracking and estimated delivery time and status, among other perks for their users.
Juan Bianchi, CEO of Euronet’s Money Transfer Segment, said in the official press release: “Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners, while delivering faster and cleaner payments to its users.”
Also, RippleNet customers will gain new access to Ria’s global fintech ecosystem, enabling cross-border payments both ways, the release adds. Marcus Treacher, Senior Vice President of Customer Success at Ripple, said, “This partnership will enable Ripple to expand the reach and solutions for our partners and the overall banking ecosystem. Ria is one of the top money transfer players in the industry, with the second largest network in the world and is known for its world-class service. By joining RippleNet, Ria not only enhances our value chain for our partners but will continue to improve remittance times and costs for both their customer and enterprise clients.”
RippleNet uses Ripple’s xCurrent technology to facilitate the instantaneous settlement and end-to-end tracking of cross-border payments among users. Although xCurrent is blockchain-based, it does not solely use Ripple’s native XRP token, as it can also use dollars, euros, and bitcoins. However, when XRP is traded through the xCurrent system, Ripple defines that as another, separate product called xRapid.
Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered spam.
Spam is discouraged by the community, and may result in action from the cheetah bot.
More information and tips on sharing content.
If you believe this comment is in error, please contact us in #disputes on Discord
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congrats on providing Proof of Activity via your Actifit report!
You have accordingly been rewarded 53.25 AFIT tokens for your effort in reaching 10350 activity, as well as your user rank and report quality!
You also received an 0.97% upvote via @actifit account.
Actifit rewards and upvotes are based on your:
To improve your user rank, delegate more, pile up more AFIT tokens, and post more.
To improve your post score, get to the max activity count, work on improving your post content, improve your user rank, engage with the community to get more upvotes and quality comments.
Actifit is now a Steem Witness. If you believe in our project, consider voting for us
Vote for Actifit as a Witness
Chat with us on discord | Visit our website
Download on playstore | Download on app store
FAQs | Text Tutorial | Video Tutorial
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit