Ripple (XRP) and TransferGo partnered to launch an instant remittance to enable the two breakthrough in Europe and Indian Multi-Billion Dollar Payment Corridor, Today’s Gazette has learnt.
In a press release by TransferGo, Ripple’s blockchain technology would be used in enabling real-time remittance transfers. TransferGo customers can now initiate instant cross-border payment from India to anywhere in Europe, thereby enabling a total debasement of Swift in India.
Daumantas Dvilinskas, Founder and CEO of TransferGo showed his delight as the fintech is now among the first to kick-start real-time payment across border.
The CEO said Ripple’s revolutionary blockchain technology will make TransferGo achieve immediate communications with their agents in India i.e. banks.
The latest innovation is a breakthrough for TransferGo customers since they now have access to send payments internationally to families and friends seamlessly and immediately.
At the moment, Ripple is celebrated as a principal alternative for slow traditional communication systems like Swift that uses 2-3 days to deliver cross-border payments.
At the same time, Ripple and TransferGo are launching free remittance service between Europe and India. However, the TransferGo Free service will take three to four business days to deliver payment.
Ripple (XRP) Swift War Begins In India
Recently, Today’s Gazette publicized that Swift announced it is launching an experimental test of gpi- aided instantaneous across border payment inflow into Asian pacific, hence, waging war with Ripple (XRP) in the region.