TransferGo will leverage Ripple technology
- London-based company TransferGo announces a new partnership with Ripple.
- It will be utilizing Ripple’s technology for cross-border transfers both to and from Southeast Asia.
TransferGo announced a new working relationship with San-Francisco-based company, Ripple. In terms of the agreement, it will see TransferGo leveraging Ripple’s technology for cross-border transfers both to and from Southeast Asia.
As per the company’s blog post, it detailed:
The CEO of TransferGo acknowledges that by 2020, even a few minutes will be too slow, which is why TransferGo is looking to use RippleNet’s On-Demand Liquidity with XRP as an alternative to pre-funding.
TransferGo CEO added:
After launching our Ripple corridor to India, we were able to pay out remittances in minutes… our U.K. customers are second-and third-generation Indians sending money to family and friends in India to help them pay utility bills and cover education costs. TransferGo enables those recipients to get that buying power as quickly as possible. Ripple gives us a competitive edge in India, which is the largest global cross-border remittance market, and today we’re moving more than a couple of million pounds per year.”
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
