The money transfer company Currency Bird says it’s the first in Chile to become a member of RippleNet.
Currency Bird joins more than 200 banks and financial institutions using Ripple’s technology to power cross-border payments. The company says the partnership will allow it to add new payment routes and improve the speed and cost of international remittances.
“The addition to Ripple Net will bring many benefits for the more than 12,000 Currency Bird customers, as it will allow the company to add new routes to its more than 50 destinations, new currencies, better prices and faster transfer speeds, all using the technology developed by Ripple based on blockchain, which allows the transfer of digital data with sophisticated and secure coding.”
The company went live on RippleNet this month after signing an agreement with the San Francisco startup in March.
Currency Bird has not revealed which of Ripple’s payment solutions it is adopting, but it is likely using the company’s payment messaging system xCurrent.
Ripple opened a new office in Brazil last month to expand its presence across South America. The company has already formed partnerships with Brazil’s BeeTech Global, Santander Brasil and Banco Rendimento.