Ripple Labs in a significant move has partnered with Clear Junction to guarantee secure and instant payment of GBP and EUR-denominated payout for its customers. The collaboration is designed to expand with plans to roll out additional currencies before the year ends.
Enhancing Cross-Border Payments
As the principal developer behind the cryptocurrency XRP, Ripple offers various enterprise solutions, including Ripple Payments. This infrastructure enables businesses to utilize blockchain technology for cross-border payments without requiring extensive expertise.
Notably, the Ripple Payments offerings include an end-to-end customer experience, simplifying network partnership, managing liquidity, offering lines of credit, and delivering advanced infrastructure for real-time payments.
These services are available to Ripple’s clients across over 55 countries and six continents. The reach covers 90% of the global Fx market with payout to more than 80 markets.
Leveraging Clear Junction’s Expertise
Clear Junction is a UK Financial Conduct Authority (FCA) -licensed e-money institution which offers fast and safe access to multi-currency payment accounts, e-money accounts, virtual IBANs, and treasury services for financial institutions. This allows clients to shorten their market time, enter new markets while utilizing innovative technologies and expertise.
Cassie Craddock, Ripple’s Managing Director for Europe maintained that Clear Junction is an outstanding partner for Ripple given the support received for all their use cases from inception. This includes offering GBP and EUR payout coverage for clients sending payments to the UK and EU.
Craddock is optimistic that Clear Junction’s broad expertise in cross-border payments and banking will be profitable to their network. Similarly, Dima Kats, Founder and CEO of Clear Junction believes the collaboration will further enhance their respective products and services.
Overall, Ripple’s collaboration with Clear Junction marks a significant step in enhancing the capabilities and reach of Ripple Payments, setting the stage for future growth and innovation in the realm of cross-border payments.
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