Ripple just added four new clients to its cross-border payments network.
The San Francisco startup says all of the new customers are utilizing RippleNet Cloud, a recently-released cloud-based platform designed to help banks and financial institutions plug into Ripple’s network without the need to spend money on additional hardware or staff.
New or existing clients can use the cloud option to enable Ripple’s payment messaging system as well as its XRP remittance platform On-Demand Liquidity (ODL).
New RippleNet Cloud customers include BCRemit, an online money transfer service that facilitates payments between the United Kingdom and the Philippines; SpotOn Money, a UK-regulated remittance provider; Lulu International Exchange; an Abu Dhabi-based foreign exchange company; and OrbitRemit, a New Zealand-based money transfer provider.
Ripple has revealed 17 cloud customers in total.
Says Jacques Zylbergeld, FX Superintendent at the Brazilian-based Banco Rendimento, one of the RippleNet Cloud customers,
“Migrating our payment infrastructure to RippleNet Cloud allows us to provide our customers with a best-in-class experience. Customers can now enjoy more transparency and easier navigation for both submitting payments and trading. RippleNet also allows us access to global partners, offering a standardized solution, and ensuring the integration and onboarding processes are seamless.”
Ripple has not stated whether its new clients are utilizing Ripple’s XRP-powered remittance product, ODL. The current list of clients confirmed to be using XRP for cross border payments include:
• MoneyGram
• Euro Exim Bank
• Bittrex
• Bitso
• Coins.ph
• Bitstamp
• Cuallix
• Mercury FX
• Catalyst
• SBI Virtual Currencies
• IDT
• Viamericas
• SendFriend
• Bitrue
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Pinglabel
