Ripple Introduces 12 New Financial Institutions to Sign Up for RippleNet

Ripple recently announced that 13 new financial institutions officially signed up for RippleNet. As known, it is the company’s payment network product.

Moreover, the official announcement released by the company also published the list of the new partner financial institutions. And so the list includes: Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND and Rendimento.

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Ripple had developed their innovative payment solution, RippleNet, which currently operates in more than 40 countries across six continents.

Additionally, the announcement also shared some official comments by the top official representatives of the listed new partner institutions. And so, Euro Exim Bank’s Director, Kaushik Punjani stated: “as a leader in trade finance solutions for global corporates and fintechs, we are uniquely placed to offer new payment channels and ways to source liquidity…

So, working collaboratively with Ripple and counterparts, we have designed, tested and are implementing both xCurrent and xRapid in record time. And hence we look forward to the benefits these will bring our customers”.

Further on, according to David Lighton, the Founder, of SendFriend, through their partnership, they are “bringing the customers a next-generation, blockchain payment solution. This solution leverages XRP to address many of the efficiency and equity problems with existing remittances. For them, that means cheaper and faster payments”.

Ashay Mervyn, Head of Emerging Markets of JNFX commented “…our decision to join RippleNet and utilize their payment solution—including XRP for on-demand liquidity—just makes sense”.

And, the final comment of the CEO of Ripple, Brad Garlinghouse stated: “in 2018, nearly 100 financial institutions joined RippleNet. And we’re now signing two—sometimes three—new customers per week.

…. We also saw a 350 percent increase last year in customers sending live payments. We’re beginning to see more customers flip the switch and leverage XRP for on-demand liquidity. At the end of the day, our goal is to make sure our customers can provide excellent, efficient cross-border payments experiences …”

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