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Currencycloud To Process Cross Border Payments On RippleNet

Just 7 months ago Currencycloud participated in a Series E Round of funding where they raised $80 million.

The series E round was backed by some noticeable names, including Japanese financial services giant SBI Group, Visa, the World Bank Group’s International Finance Corporation, BNP Paribas and Thailand’s oldest bank Siam Commercial Bank.

From the official press release by Currencycloud:

As part of its Series E funding round, Currencycloud received new backing from leading global institutions such as Visa, International Finance Corporation (a member of the World Bank Group), BNP Paribas, SBI Group and Siam Commercial Bank. Visa, who partnered with Currencycloud in 2019 to deliver innovation in travel payments, will see Colleen Ostrowski, SVP and Treasurer of Visa Inc, join the board.

As we fast forward 7 months, Currencycloud, the global leader in providing embedded B2B cross-border payments for platforms of the future, today announced a partnership with Ripple, the enterprise blockchain solution for global payments.

RippleNet, Ripple’s global financial payments network, makes it easy for its diverse network of financial institutions worldwide to enable faster, lower-cost payments around the world.  The partnership with Ripple will allow Currencycloud to explore new mechanisms for moving money efficiently around the world, especially where regulations and limitations restrict opportunities for SMEs.

Mike Laven, CEO at Currencycloud stated:

Currencycloud is all about bringing clarity, speed and value to the traditionally opaque, costly and time-consuming issues associated with cross-border payments, particularly for SMEs that have historically been under-served by traditional banking. Ripple’s solution will help us to extend our network to new parts of the world, removing more barriers to payments for our clients

Currencycloud Raises $80 million From Ripple Backed Investors

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