Join Our Mailing List
Friday September 22, 2023
Bitcoin (BTC) $26,521.11   Ethereum (ETH) $1,590.78
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Ripple

Payment firms IDT and MercuryFX to use Ripple (XRP)

Published by CryptoNinjas.net
01/24/2018
Payment firms IDT and MercuryFX to use Ripple (XRP)

Ripple today announced it has added two new payment partners with IDT Corporation and MercuryFX signing up to use the company’s xRapid solution to settle retail remittances and corporate transactions.

Both companies join MoneyGram and Cuallix, who also recently partnered with Ripple for using XRP in payment flow to enable on-demand liquidity for global payments.

IDT and MercuryFX both have unique customers and business models:

  • MercuryFX — a global currency exchange provider — their focus is on challenging the status quo in retail remittance payments. Similar to Ripple’s goal of reducing friction in global payments, MercuryFX wants to help payments move in real time, providing a more efficient and transparent customer experience.
  • IDT — a publicly traded telecommunications company, which facilitates online money transfers between individuals — the goal is to make sure their customers can send low-cost global payments.

“It’s no secret that XRP is faster and more efficient than bitcoin or any other digital asset. It settles in three seconds and at fractions of a penny,” said Brad Garlinghouse, CEO of Ripple. “Payment providers like IDT Corporation and MercuryFX are early movers because they understand what XRP can do for their business and customer experience. We’re excited to have them at the forefront of the Internet of Value.”

Ripple says that the growing institutional adoption of XRP, through the on-demand liquidity solution, xRapid, shows that real progress is being made towards building the Internet of Value (IoV). IoV is Ripple’s long-term vision for instantly moving money the same way information moves. With xRapid and XRP, financial institutions can eliminate the need for intermediaries or pre-funded Nostro accounts in destination currencies.

[perfectpullquote align=”full” bordertop=”false” cite=”Alastair Constance, CEO, and founder of Mercury FX” link=”” color=”” class=”” size=””]“Ripple, XRP and fiat currency fit hand in glove. What we’re doing together is realizing one of the best use cases for frictionless transactions, which is international settlement. xRapid allows us to drive down the cost of currency exchange and global settlement, making our customers more competitive and saving them tens of millions of dollars each year. Digital assets promise fast transaction speeds but XRP is far faster than all of them, including bitcoin. Cutting settlement times from hours and days to just three seconds or less will remove billions of dollars in unnecessary intermediary fees.”[/perfectpullquote]

[perfectpullquote align=”full” bordertop=”false” cite=”Alfredo O’Hagan, senior vice president of IDT’s consumer payments business” link=”” color=”” class=”” size=””]“Our BOSS Revolution international money transfer business routinely utilizes digital assets to generate liquidity in fiat currencies for our disbursement agents as part of our transaction settlement process. We’re excited to pilot Ripple’s xRapid solution for on-demand liquidity. We expect that xRapid will enable us to settle more transactions in real-time and at a lower cost.”[/perfectpullquote]

126
SHARES
SubscribeE-MailXFacebookWhatsappTelegramRedditLinkedin

Related News

Royal Monetary Authority of Bhutan and Ripple to pilot CBDC with private blockchain

09/22/2021
Royal Monetary Authority of Bhutan and Ripple to pilot CBDC with private blockchain

Ripple, the provider of enterprise blockchain and crypto solutions for cross-border payments, today announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority (RMA), to pilot a central bank digital currency (CBDC) using...

Read more

Banco Rendimento first bank to use Ripple’s blockchain payments in the cloud

06/15/2020
Banco Rendimento first bank to use Ripple’s blockchain payments in the cloud

Ripple, a provider of enterprise blockchain solutions for payments, today announced Banco Rendimento has launched with RippleNet Cloud. As the first bank to use Ripple technology entirely in the cloud, Banco Rendimento joins nearly...

Read more

Thailand remittance payment platform DeeMoney connects to RippleNet

03/19/2020
Thailand remittance payment platform DeeMoney connects to RippleNet

DeeMoney, a fintech company based in Thailand specializing in digital cross-border money transfers, has announced its platform is now processing live transactions, in partnership with Ripple, the enterprise blockchain solution for global payments. Through...

Read more

Azimo to use Ripple ODL and XRP for remittances into The Philippines

02/26/2020
Azimo to use Ripple ODL and XRP for remittances into The Philippines

Ripple, the cross-border payment network powered by distributed ledger technology (DLT), today announced a new partnership with European digital money transfer service Azimo. The company has launched with Ripple’s On-Demand Liquidity (ODL) service as...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Blockstream releases new platform for Liquid-sidechain security token issuance

Blockstream releases new platform for Liquid-sidechain security token issuance

05/15/2019
Blockstream Mining Bitcoin

Blockstream launches bitcoin mining colocation and pool services

08/08/2019
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Understanding the Rising Trend of Litecoin Casinos

Understanding the Rising Trend of Litecoin Casinos

09/17/2023
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy