The success behind Ripple’s technology these months seems to receive a lot of likes by the public. One of the leading cryptocurrencies has been announcing new partnerships with five banking and money transfer insitutions in four different countries.
For many, Ripple has the biggest potential when it comes to making use of its technology. What can be said for sure is that Ripple has gotten a lot of likes and many starts to different projects. Right now, the adoption is happening by two banks – Itau Unibanco from Brazil as well as IndusInd from India.
Aside from the banks, three money remittance companies from Singapore, Brazil and Canada (InstaReM, Beetech and Zip Remit respectively) are joining the revolution and trying to facilitate real-time international payments.
Both Beetech and Zip Remit are planning to use Ripple’s xVia technology to facilitate international payment corridors for individual customers. On the other hand, IndusInd, InstaReM and Itau Unibanco will adopt the xCurrent technology by Ripple for real-time international transfers to financial institutions (something that has been already embraced by Western Union).
According to the CEO of InstaReM Prajit Nanu, this move will help Ripple to be pushed even further in the crypto watters.
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“Now, RippleNet members will be able to process a large number of payouts in Southeast Asian countries through InstaReM’s secure rails,” Nanu said.
The head of business development at Ripple, Patrick Griffin, is also feeling confident about these new partnerships. He stated:
“Whether it’s a teacher in the U.S. sending money home to his family in Brazil or a small business owner in India trying to move money to open up a second store in another country, it’s imperative that we connect the world’s financial institutions into a payments system that works for their customers, not against them.”
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