Texas-headquartered eZforex.com, Inc. a provider of foreign exchange services to banks, banker’s banks, credit unions, and corporate credit unions, today announced that it is expanding its suite of global payments solutions to include Ripple’s blockchain technology.
Ripple, a San Francisco based company, connects banks around the world by offering real-time cross border payment services to its customers using distributive ledger technology.
Ripple’s native asset XRP is currently the number 3 ranked cryptocurrency in the world by market cap at $1.1 billion USD.
After one year of development, eZforex, in collaboration with Ripple and Star One Credit Union, reported that they were able to deliver live payments to 4 continents on April 10, 2017.
Robert Crandall, former CEO of American Airlines, Inc. and an eZforex investor noted:
“This is a major step forward. Now all financial institutions, regardless of size, can offer their customers access to the safest, lowest cost funds transfer technology.”
Known for innovating turn-key Dodd-Frank 1073 compliance solutions, including the Federal Reserve’s ACH initiative, relied upon by several international payments providers nationwide, eZforex is now taking a leap into the future by cooperating with Ripple to establish a new industry standard with international blockchain payments for the banking industry.
Evan Shelan, eZforex Chairman added:
“We are ecstatic to have a part in helping move the industry forward and excited to begin rolling-out blockchain technology to all eZforex banks and credit unions this year.”
Lynn Brubaker, Star One Credit Union’s VP Deposit Services added:
“Our members are going to greatly benefit from the speed, high security, and low prices that blockchain technology provides for our international remittances.”