Moneynetint — British company engaged in currency exchange and money transfers, announced about joining RippleNet. In particular, the company began to use the service xCurrent, this Monday, October 15. This is with reference to the CEO of the company reports PaymentsJournal.
As reported PaymentsJournal, Moneynetint have already received appropriate instructions for processing payments from two other clients Ripple. The company’s joining RippleNet will allow other clients to Ripple to use her services without implementation of the API, since the structure of the network involves the voluntary provision of services or granting other members access to the services.
According to the Director of Department of client accounts Ripple Nadim Ladki (Nadeem Ladki) due to the use xCurrent Moneynetint will be able to significantly optimize its operational activities:
“With the help of technology Ripple Moneynetint can simplify and reduce the exchange rate to their customers, and also faster to process payments and to enter new markets that were previously inaccessible or unprofitable in the financial plan.”
CEO Moneynetint Yishay Trif (Yishay Trif) stressed that the decision to join RippleNet is strategic in nature:
“The cooperation agreement with Ripple is part of the strategy of the company to enter into innovative sector of the payment industry and the adoption of the advanced status of the organization in this area. […] To Moneynetint is a huge step forward, expanding our capabilities to provide innovative services […] and provides access to a wide customer base with minimal attendant risks”.
Besides, today it became known that RippleNet was first used to set a payment corridor between Southeast Asia and Europe. Malaysian FINTECH-startup MoneyMatch reported the successful conduct of a series of test transfers in Europe using a xVia. In total, the company processed some outbound transfers from Kuala Lumpur and sent to Spain, Germany, Latvia and Ireland. All transactions provided for converting Malaysian ringgit to euros.
Today also it became known that the partners of Ripple using the service xRapid on a regular basis, included international processor Viamericas money transfer.