Moneynetint Joins Ripple’s Instant Payment Network
Moneynetint recently announced that it has partnered with Ripple so that it can use the platform’s blockchain based instant payment rails. The platform has been working increasingly with financial firms worldwide to provide cross-border money transfer and currency exchange for clients who would like to become more efficient on a daily basis.
The platform has completed deploying RippleNet and signed partnership agreements with two networks, which will enable it to process payments in a decentralized manner. Nadeem Ladki, Ripple’s director, stated:
“By leveraging Ripple’s blockchain technology, Moneynetint will now be able to simplify and reduce the FX conversion rates for their customers, increase the speed of settlement and offer services to new markets that would otherwise have been too difficult or too costly to reach in the past.”
Ripple has appeared in the news in the past few days, particularly after its conclusion of the Swell 2018 conference. There are also rumors that Ripple is considering partnering with SWIFT, and if so, the announcement will be made at SWIFT’s SIBOS conference in Australia.