Ripple’s newest solution, RippleNet Cloud, announced two weeks ago, has gotten its first adoption within the banking industry.
Banco Rendimento, a Brazil-based bank, has just adopted a financial Cloud Service designed by Ripple to let financial institutions and customers enjoy better and more flexible remittance services.
Banco Rendimento made the announcement on Wednesday, June 11, revealing that it would be upgrading its partnership with Ripple by integrating the new solution, Cointelegraph Brazil has said.
While Ripple earlier explained that the new services will make banks survive and remain efficient during and after the lasting pandemic, Banco Rendimento, which is now the first within the banking industry to adopt this solution, will be moving its services to the RippleNet Cloud.
Banco Rendimento has been a partner of Ripple as far back as 2018, and it is part of the top financial institutions using RippleNet solution.
According to Ripple, Banco Rendimento, among other banks joining the RippleNet Cloud, will be able to do so five weeks faster than they joined RippleNet with the help of the cloud. Banco Rendimento will now begin to enjoy a number of varying benefits offered by the new Ripple solution.
The Ripple’s Cloud Service allows financial institutions to store data and control a number of operations via the cloud, and this has become a common trend being embraced by companies in recent time.
With the RippleNet Cloud, banks may not need to cater for much again, thus reducing their expenses. The RippleNet Cloud has a 24/7 monitoring and support team that attends to every problem, and it is very cheap to deploy.
Institutions joining RIppleNet Cloud also have the option if using Ripple’s On-Demand Liquidity that uses XRP for remitting transactions.
However, Banco Rendimento seems not to be the first company to have embraced the RippleNet Cloud. Amir Sarhangi, the Vice President Product at Ripple, while explaining the benefit of Ripple’s Cloud Service, said some of RippleNet’s top members are already deploying to the cloud service.
XRP E-Commerce Platform Unveiled
The director of products at Ripple, Craig DeWitt, has announced the development of an e-commerce XRP payment platform known as Payburner. The project is designed to help facilitate payment within the e-commerce industry.
Earlier the Ripple official launched an XRP-centered music platform known as xSongs that allows people to buy songs with XRP. However, the latest project, Payburner, allows online platforms to accept XRP payments easily.