- xCurrent is tailor-made for financial institutions.
- Ria has a presence in more than 155 countries with 377,000 locations around the world.
Ripple, a blockchain startup based in San Francisco is steadily making a name for itself when it comes to cross-border payments and micropayments around the world. RippleNet, a network that connects banking institutions is among the company’s flagship products. RippleNet partnerships continue to grow including Rai Money Transfer which recently joined the network.
Ria Money Transfers is a subsidiary of Euronet Worldwide; a leading money transfer network in the entire world. Ria will be working with Ripple’s xCurrent in order to leverage transfer with more than 200 financial institutions using the blockchain technology. xCurrent is tailor-made for financial institutions who want to cut transaction costs and increase processing speed. Speaking at Euronet Worldwide first quarter 2019 Earnings Call, the CEO Michael Brown said:
“We are using our technology to actively support parties who are making inroads to disrupt the more traditional players by providing them with state-of-the-art technology and immediate access to our expansive physical network, which would take years to build from scratch.”
“We signed an agreement with Ripple that gives Ripple access to Ria’s global physical and digital footprint, while also allowing Ria’s customers to connect and transact with Ripple’s network which includes more than 200 financial institutions worldwide.”
Ria has a presence in more than 155 countries with 377,000 locations around world. This partnership will help to enhance payments to the firm’s customers who send and receive over $40 billion every year.
Ripple’s senior VP of customer success, Marcus Teacher said in regards to the partnership:
“Ria is one of the top money transfer players in the industry, with the second largest network in the world and is known for its world-class service. By joining RippleNet, Ria not only enhances our value chain for our partners but will continue to improve remittance times and costs for both their customer and enterprise clients.”
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