Ripple acquires stake in cross-border payments firm
Ripple has agreed to acquire a 40% stake in cross-border payments firm Tranglo to further expand its ODL service in Southeast Asia. Ripple continues its push into the Asian market by acquiring a stake in a cross-border payments firm.According to a blog post, Ripple has agreed to acquire a 40% stake in cross-border payments firm Tranglo, with the aim to expand RippleNet’s On-Demand Liquidity, or ODL, service that uses the XRP cryptocurrency. The completion of this transaction is subject to regulatory approval, with investment firm TNG Fintech Group remaining the majority shareholder in....
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San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has joined the International Payments Framework Association (IFPA). The Association, whose members include the likes of ACH, NACHA and SWIFT, provides rule sets, best practices and guidance on how to improve cross-border payments. Nilesh Dusane, director of business development at Ripple Labs, said that the company was
Blockchain or distributed ledger technology (DLT) has yet to achieve widespread use, but it is mature enough to begin commercial use. Ripple, a DLT technology provider, believes the time is ripe for banks to work together to initiate a network for more efficient inter-bank and cross-border payments, according to a white paper [PDF] by Ripple and Accenture. The paper, titled, “The Journey to Real-Time Cross Border Commercial Payments using Distributed Ledger Technology,” noted that more than 600 alternative distributed networks have emerged since bitcoin began in 2009, including Ripple,....
Ripple, Enterprise blockchain and crypto solutions provider has partnered with FOMO Pay. FOMO Pay is a leading Singapore-based institutional digital payment solution provider and has become the latest firm to unify with Ripple’s liquidity solution. Through this integration, FOMO Pay is planning on using Ripple’s crypto-enabled enterprise technology which is supposed to enable its cross-border […]
Santander has begun using an app for international payments using Ripple Labs’ blockchain technology, according to Ripple on its Ripple Insights website. The pilot app makes Santander the first U.K. bank to use Ripple technology for cross-border payments. Santander is introducing the app as a staff pilot, with the intention to expand the technology. Once the app is downloaded, Santander staff just have to complete profile details to start to make payments. The app connects to Apple Pay, where users can securely confirm payments using Touch ID. It allows users transfer between £10 and....
Ripple Labs and Earthport announced a global partnership to offer a faster, cost-efficient and reliable cross-border payment solutions for both consumers and corporate houses. Both the companies are considered veterans in their respective areas. While Ripple Labs is recognized as the world's leading open-source payment protocol that allows real-time fund-transfers in any currency, Earthport holds a similar stature in the field of white label cross-border payments, with services available across 60 countries. The latter is already partnered with major banks like BBVA, Bank of America and....