Share this article
5 More Payments Firms to Adopt Ripple's xVia Tech
Five firms across Europe and Asia plan to adopt Ripple's xVia protocol to bring their payments services to emerging markets.
Updated Sep 13, 2021, 7:53 a.m. Published Apr 27, 2018, 6:00 p.m.
Make us preferred on Google
Five payments providers in Europe and Asia are set to use Ripple's xVia technology, the distributed ledger startup announced Thursday.
The company's new customers include U.K.-based firms FairFX, RationalFX and Exchange4Free, in addition to peer-to-peer currency exchange platform MoneyMatch in Malaysia and settlements company UniPay from the Republic of Georgia.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Using Ripple's xVia tech will help these companies expand their customer base, said Ripple senior vice president of product Asheesh Birla.
"All of these customers run into the same problem: building bespoke connections to banks and networks all over the world. It's expensive and time consuming," he said in a statement. "xVia enables them to grow their overall market share by reaching new customers in new markets, easier than ever before."
Ripple explained in a blog post that, unlike traditional means of transferring funds abroad, such as wire transfers, xVia's standard API solution means that it doesn't suffer from high failure rates and manual reconciliation costs.
FairFX's chief commercial officer, James Hickman, said xVia "will allow us to reach more people, more efficiently and at a lower cost."
"It will also enable us to deliver on our commitment to give customers the most transparent, efficient and truly global money transfer possible using RippleNet," he said.
Ripple has been steadily acquiring new customers, and announced in February that fintech firms Beetech and Zip Remit also planned to adopt xVia.
Water ripples image via Shutterstock
More For You
More For You
BlackRock's digital assets head: Leverage-driven volatility threatens bitcoin’s narrative
Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.
What to know:
- BlackRock digital-assets chief Robert Mitchnick warned that heavy use of leverage in bitcoin derivatives is undermining the cryptocurrency’s appeal as a stable institutional portfolio hedge.
- Mitchnick said bitcoin’s fundamentals as a scarce, decentralized monetary asset remain strong, but its trading increasingly resembles a "levered NASDAQ," raising the bar for conservative investors to adopt it.
- He argued that exchange-traded funds like BlackRock’s iShares Bitcoin ETF are not the main source of volatility, pointing instead to perpetual futures platforms.
Top Stories
