RationalFX has announced a partnership with Ripple, saying it is able to make payment to over 200 destination globally using RippleNet.
RationalFX UK has far-reaching tentacles, the firm has traded over $10 billion in currencies across the world. Partnering with Ripple, a Sans Francisco-based blockchain firm, is going to be a win-win victory. The Foreign Exchange firm processes funds in over 50 currencies and is trusted by over 180,000 individuals and business clients.
According to RationalFX UK, Ripple makes money transfer faster, easier and more secured.
“We’ve partnered with Ripple, to make your money transfers faster, easier and more secure,” RationalFX UK said in a Twitter update.
“Join the thousands of clients currently using RationalFX to manage their international money transfers.”
We’ve partnered with #Ripple, to make your money transfers faster, easier and more secure. Join the thousands of clients currently using RationalFX to manage their international money transfers. #Ripplenet #ForeignExchange pic.twitter.com/WyURFFS2wz
— RationalFX UK (@RationalFX) April 4, 2019
Ripple has been performing wonders in the remittance industry for some time now. The blockchain firm has been on the verge of outperforming its competitors and hopes to become the giant of cross-border remittance with its innovative tools geared towards hijacking customers of some traditional remittance firms like SWIFT.
Despite the age-long services of the likes of SWIFT and Western Union, different firms are now using RippleNet to service their customers across the world.
RippleNet’s interest is growing among banks, payment providers and other financial institutions. Not long, Ripple celebrated onboarding its 200th clients made up of big banks and central banks.
Saudi’s Central Banks, the National Bank of Kuwait, Euro Exim Bank, Banco Santander and some other notable banks across the world are now using Ripple to settle payment across border. In fact, Ripple’s seamless services have saved these banks multi millions of dollars lost to transaction charges in the past.
Financial institutions are queuing to use the tools (xcurrent, xRapid, xVIa) provided by the Francisco-based company to solve remittance hardships like delay in transfer and exorbitant charges seen in during SWIFT transfers and some other traditional remittance service providers.
Ripple’s xRapid, a payment tool that depends solely on XRP digital asset, is being used by different payment service providers across the world.
A world Bank article recently inferred that Ripple and some other outstanding remittance firms have put SWIFT on their toes to deploy innovative technologies like DLT to perfect cross-border remittance.
