Another major signing has been recorded by Ripple (XRP) as UK e-money outfit Moneynetint notified that it has partnered with Ripple to use the firms blockchain-based instant payments rails.
With Moneynetint’s increasing corporations with fintechs companies around the world, the company’s provision of cross-border money transfers and currency exchange for clients is becoming efficient day by day.
Moneynetint has completed the deployment of RippleNet, and has also signed partnership agreements with two other networks, enabling it to process payments in a decentralised manner.
Speaking on the development, Nadeem Ladki, director, account management at Ripple, says: “By leveraging Ripple’s blockchain technology, Moneynetint will now be able to simplify and reduce the FX conversion rates for their customers, increase the speed of settlement and offer services to new markets that would otherwise have been too difficult or too costly to reach in the past.”
Ripple has been featuring in the news this days, especially during it recently concluded Swell 2018 Conference which featured big firms and Central banks across the globe.
There is growing rumour that the platform will partners with SWIFT while the announcement will be made during SWIFT’s SIBOS conference in Sydney Australia.