EarthPort is going to play a massive role in the growth of cross-border transactions. Earthport is the leading payment network for cross border transactions and just keeps on expanding its reach with newly acquired partnerships with some of the largest banks in the world.
Back in March of 2018, we have learned that Earthport has expanded its relationship with Japan Post Bank to deliver outbound cross-border payment services across a number of regions, which includes North America and Europe. Also around this time frame, we have learned that Japan Post Bank has joined SBI Ripple Asias’s Bank Consortium.
SBI is massive and its public knowledge that SBI has created a 61 bank consortium that will be powered by Ripple. So lets put some of this together to connect all of the dots. SBI, as we know, is heavily invested in Ripple the company and they hold a large amount of XRP. SBI created there own banking system currently consisting of 61 banks in Japan that will utilize Ripples technology. Earthport, as we have covered before, is creating a network that will be powered by Ripple. Earthport has a payment network of over 67 countries and enables some of the world’s largest financial institutions to seamlessly manage payments across the world. Earthport signed a deal with Japan Post Bank to deliver cross border payments. Japan Post Bank is a member of SBI banking consortium. See how this all ties together, it’s a thing of beauty.
I know some of you are out there saying but they do not mention XRP or Xrpaid etc. That’s okay, not every banks or payment provider is going to come out and say they are using a digital asset or whose technology they are using. It’s a competitive world out there and they are going to keep things on the low. The Senior Managing Executive Officer of Japan Post Bank said “since January 2018 we began handling international remittances on the web and expanding the remittance destination mediated by Earthport to more countries and it is now possible to make full remittance to the payee account without deducting the intermediate fee” How do you think they are able to make the full payment amount without deducting the intermediate fee? XRP baby, that’s how. Unless you know another technology that can move money cross-border for practically free let me know down below in the comments.
Documents to back up our facts: