Ripple & Euro Exim Bank

Ripple & Euro Exim Bank

Febbraio 4, 2019 0 Di Stefano Romoli

Last January 13th I informed you about the new partnerships announced by Ripple. 13 new organizations have joined the RippleNet payment network. They are: Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual / USEND and Performance. To date, there are over 200 global partners who use RippleNet.

Among them stands out Euro Euro Exim Bank, is a bank based in London mainly focused on the provision of financial services for export and import companies. It is the first bank in the world to use xRapid, a Ripple-registered solution that facilitates cross-border transactions. xRapid was officially launched in October.

Thanks to xRapid, cross-border transactions take place within minutes and at a lower cost than traditional methods, which take days and involve high commissions due to currency exchange. Ripple’s CEO, Brad Garlinghouse, said recently that he expects a growth in the number of banks that will start using xRapid during 2019. To date, Euro Exim Bank is still the only one.