Ripple Enters into Deal with One of the World’s Biggest Money Transfer Providers

XRP Price Technical Analysis for February 25th

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RippleNet is getting bigger, and one of the latest moves it just made is an impressive one indeed. The company has now entered into a solid partnership with Ria Money Transfer. The latter is a branch of Euronet Worldwide and one of the biggest money transfer businesses on the planet. Ria plans to make use of xCurrent and XRP price to link up and conduct transactions using Ripple’s worldwide blockchain payment networks. The massive networks cover over 200 financial institutions in different countries and regions.

The Deal

The well-known enterprise software solution xCurrent allows banks to sort international payments all at very affordable prices immediately and also with detailed tracking of transactions. Ripple will also make use of Ria’s Digital Integrated Payment Cloud, which is a global financial technology ecosystem and it allows its stakeholders to change the way that transactions were done conventionally significantly. While talking at the Q1 2019 Earnings Call for Euronet Worldwide, chief executive officer Michael Brown focused on Ripple with its trademark Ripple wallet.

He said that they are making use of their technology to give support to those who are having real changes on the financial platform. This is done by allowing them to gain access to the vast physical network and also utilize the latest technologies. This facilitates progress as the change makers do not have to spend years on starting their own architecture from the beginning.

The CEO also disclosed that the agreement that they signed with Ripple allows Ripple to have access to Ria’s global and digital network. This also allows the customers of Ria who want to buy XRP to also link and do their transactions with Ripple’s network which has over 200 financial institutions across the globe. As Ria serves clients in more than 155 nations in over 377,000 outlets all over the world, the deal plans to release more productive payments for Ria’s global customers who do transactions worth $40 billion in money transfers on a yearly basis.

Better Prospects

According to Juan Bianchi, chief executive officer of the Money Transfer Segment of Euronet, Ria has come up with the second largest money transfer network in the world. This is in addition to the first-class compliance structure all linked by unique technology. The partnership of Ria with Ripple is going to promote a sophisticated payment infrastructure that wants to give easier access to dormant clients while also allowing for swifter and more satisfactory payment services to the users. Bianchi stated that time is very important for their clients and partners, so all their works on innovation are focused on that.

Marcus Treacher is the senior vice president of customer success at Ripple, and he shares the same sentiments. He restated the fact that Ria is one of the main brands in the money transfer sector having the second biggest platform in the world and is respected for its top-notch service. He believes that by linking up with RippleNet, Ria is not only going to strengthen its base, but it will also slash times needed for the remittance services and lead to a cut in the cost of operations for all the stakeholders.

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About Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.