Five New Partners Joined RippleNet
February 22, 2018
Ripple representatives declared to have concluded a partnership contract with five financial institutions from four countries over the world. Among them there are the Brazil’s largest bank Itaú Unibanco, major commercial bank of India IndusInd, as well as payment providers InstaReM from Singapore, Brazilian Beetech and Canadian Zip Remit.
As a result of the agreement IndusInd, InstaReM and Itaú Unibanco will start using xCurrent for improving international transactions in real time.
Beetech and Zip Remit will in their turn take use of another Ripple solution called xVia to simplify cross-border payment process for individual clients. In addition, these companies have claimed to partner up with another RippleNet member LianLian from China.
The head of business development in Ripple Patrick Griffin said, new agreements would be of particular use for financial institutions from developing countries.
“… it's imperative that we connect the world's financial institutions into a payments system that works for their customers, not against them” he added.
Ripple has made a deal with Western Union recently, the prominent company is expected to introduce blockchain-based XRP projects into its transactions system.