Crypto

Ripple Signs Four New Cross-Border Clients, Number of Companies Utilizing XRP Stands at 14

Ripple just added four new clients to its cross-border payments network.

The San Francisco startup says all of the new customers are utilizing RippleNet Cloud, a recently-released cloud-based platform designed to help banks and financial institutions plug into Ripple’s network without the need to spend money on additional hardware or staff.

New or existing clients can use the cloud option to enable Ripple’s payment messaging system as well as its XRP remittance platform On-Demand Liquidity (ODL).

New RippleNet Cloud customers include BCRemit, an online money transfer service that facilitates payments between the United Kingdom and the Philippines; SpotOn Money, a UK-regulated remittance provider; Lulu International Exchange; an Abu Dhabi-based foreign exchange company; and OrbitRemit, a New Zealand-based money transfer provider.

Ripple has revealed 17 cloud customers in total.

Says Jacques Zylbergeld, FX Superintendent at the Brazilian-based Banco Rendimento, one of the RippleNet Cloud customers,

“Migrating our payment infrastructure to RippleNet Cloud allows us to provide our customers with a best-in-class experience. Customers can now enjoy more transparency and easier navigation for both submitting payments and trading. RippleNet also allows us access to global partners, offering a standardized solution, and ensuring the integration and onboarding processes are seamless.”

Ripple has not stated whether its new clients are utilizing Ripple’s XRP-powered remittance product, ODL. The current list of clients confirmed to be using XRP for cross border payments include:

• MoneyGram
• Euro Exim Bank
• Bittrex
• Bitso
• Coins.ph
• Bitstamp
• Cuallix
• Mercury FX
Catalyst
SBI Virtual Currencies
IDT
Viamericas
• SendFriend
• Bitrue

Featured Image: Shutterstock/Pinglabel

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James Donald
James Donald writes for the Crypto section of Select News 91. He is an economic expert with a special interest in the unregulated currency system. He believes that the future of the planet lies in the unregulated system and that cryptocurrency is only beginning its journey. Whether his prediction is true or not, his skills certainly show his ability to analyze trends and dissect policy decisions. His column talks about the various cryptocurrencies failing and succeeding in a market that is nowhere near saturation.

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