As reported by Techcrunch, Money transfer company TransferWise has begun a private launch of its “Borderless account” for consumers. It marks the first time for the European unicorn to offer a debit card, a move that is bound to draw further comparisons with newer fintech upstarts such as Revolut.
Initially rolling out to a thousand customers, with several thousand more to be invited in the coming weeks and a full public launch pegged for Q1 this year, the online banking account gives you local bank details for the U.K., U.S., Australia and Europe, and lets you hold and convert 28 currencies. It is targeted at people who need to receive and spend money abroad and who want to take advantage of TransferWise’s low exchange rate and transparent fees when doing so (continue on techcrunch)
After this news, XRP started to gain. Many users suggest that TransferWise will soon work closely with Ripple, but according to an official post of Ripple technology, TransferWise CEO is already considering to adopt Ripple products as shown below
According to our sources, after Western Union, TransferWise could be the next to team up with Ripple, but the deal is still open, especially TransferWire management is asking Ripple guarantees regarding the stability and resilience of the products. In fact Ripple and TransferWise have never collaborated , while Western Union and Ripple started to work together two years ago.