London-based smart banking platform, Platio recently confirmed the news about entering into a partnership with Ripple. The confirmation was made on the company’s official Twitter page as an answer to a follower’s post. The original message by Platio stated: “we have a vendor agreement with Ripple. We will be integrating with Ripple’s xVia feature to transmit payments”.
In earlier published white paper of the company, the authors mentioned the name of Ripple many times and hence the recent discussion on the social platform was eventually linked to that aspect.
According to the earlier published white paper, “the Platio Ecosystem will be based on a seamlessly operated mobile and web interface, where users will have all the necessary data and tools at their fingertips to instantly transact with crypto, fiat or stock. Platio’s platform will be built on EOS technology, capable of hosting smooth, routine interactions of Platio’s multilayered ecosystem”.
It also confirmed that the platform is powered by the ERC 20 token PGAS and that it will aim at integrating all of Platio’s features in it. It will also be used for all internal commissions and fees connected with the platform.
Platio aims at offering payment and remittance service via using SWIFT/SEPA/Ripple payment networks. “In the Platio Ecosystem, all supported crypto and fiat assets may function as a means of payment using SWIFT/SEPA/Ripple, including third-party and international payments. Payments to be made by converting cryptocurrency to fiat will be executed with the help of an integratedautomatic exchange”, further on explained the paper.
Hence, as a result of the recently confirmed partnership, the company reportedly will be using Ripple’s xVia interface in order to enable cross-border payments across various networks.
Platio’s CEO, Dima Okhrimchuk, earlier explained the mission of the company stating: “Platio aims to take the best features from both crypto and fiat financial systems. Our Smart Banking Ecosystem is set to increase confidence in crypto as an asset and drive its global adoption”.