Sunday, September 20, 2020
No menu items!
  • News
  • Blockchain
  • XRP News
  • Contact Us
More

    Ripple Seals Partnership with MoneyMatch to Expand to another 120 Countries

    Must Read

    Jed McCaleb Effects about $3 Million Selloff, As XRP Liquidity Indexes Stay Low

    Going by the recent data released by Bithomp, Jed McCaleb, who co-founded the cross-border payment giant, Ripple, has initiated...

    Analyst Says XRP Price Has Potential to Surge By 30% Once It Breaks This Resistance

    A cryptocurrency analyst identified as TiborVrbovsky has opined (using an illustrative chart on Tradingview) that the fourth largest digital...

    Kraken Exchange to Return to Japan with XRP, ETH, LTC, BCH, XBT Spot Trading

    As recently announced, the top cryptocurrency that just became a United States Bank after winning bank charter approval, will...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    Ripple, the US-based blockchain tech, has some hours ago announced its partnership with a Malaysian cross-border payment service, MoneyMatch.

    The addition of RippleNet to its payment platform is expected to significantly accelerate its transaction speed and reduce its transaction cost.

    Ripple reported this newly sealed partnership via its official website and shared on its Twitter feeds a couple of hours ago.

    “MoneyMatch partners with Ripple to offer faster and more affordable payments to more than 120 countries around the world,” Ripple shared.

    Why the Partner Is Good for Both Ripple and MoneyMatch

    The new partnership between Ripple and MoneyMatch is expected to bring about mutual benefit between the duos.

    MoneyMatch works with small and medium-sized enterprises (SME), so the company needs Ripple’s payment tool, RippleNet, to optimize its transaction speed and cost for better service delivery, while Ripple gains access to over 120 countries across the world, where MoneyMatch cross-border payment services reach.

    Adrian Tap, the CEO of MoneyMatch, while reacting to the partnership with Ripple, said, banks make a lot of profits from FX-operations which are costly for their customers.

    He said, “After joining RippleNet, we were suddenly a credible partner for all these financial institutions and payment providers around the world. Working with RippleNet partners allowed us to cut our costs by as much as 40% and instead of transactions taking at least two days, we were completing payments in just a few hours.”

    Ripple’s Partner, SBI Holdings Starts the Use of R3 Blockchain for FX Trading

    SBI Holdings, one of the loyal Ripple’s partner has started the use of R3 blockchain technology for foreign exchange margin (FX) trading.

    Going by a report, this is the first practical Corda blockchain application in the country. The use of Corda will start between SBI Securities and SBI Liquidity Market. Its services will further expand to outside of the SBI Group of companies, depending on the outcome of the first operation.

    SBI Group said,

    “…we have reduced the operational risk in the confirmation business and ensured high privacy protection and tamper resistance. In addition, the blockchain guarantees the identity of transaction data between the parties and improves the reliability of collation work. Furthermore, the real-time transmission of information enables seamless data linkage to back office work.”




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Jed McCaleb Effects about $3 Million Selloff, As XRP Liquidity Indexes Stay Low

    Going by the recent data released by Bithomp, Jed McCaleb, who co-founded the cross-border payment giant, Ripple, has initiated...

    Analyst Says XRP Price Has Potential to Surge By 30% Once It Breaks This Resistance

    A cryptocurrency analyst identified as TiborVrbovsky has opined (using an illustrative chart on Tradingview) that the fourth largest digital currency by market capitalization, XRP,...

    Kraken Exchange to Return to Japan with XRP, ETH, LTC, BCH, XBT Spot Trading

    As recently announced, the top cryptocurrency that just became a United States Bank after winning bank charter approval, will soon reopen in Japan with...

    Galaxy Digital CEO Mike Novogratz Reveals Percentage of BTC and ETH in His Portfolio

    The CEO of Galaxy Digital, Michael Novogratz, has revealed the percentage of Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies in his portfolio. The veteran cryptocurrency...

    Ripple Enhances Its Partnership with Bill & Melinda Gates Foundation

    As a report has it, Ripple, the US-based cross-border payment firm has become a sponsor member of Mojaloop Foundation, which implies that the payment...

    More Articles Like This