Happy Saturday to the XRP community. The latest tweet from Ripple pointed us to a company in the UK called MoneyNetint.
— Ripple (@Ripple) May 24, 2019
So who is MoneyNetint: MoneyNetint, a UK-based provider of foreign exchange services for the corporate sector. MoneyNetint joined RippleNet to make its global payments platform even more efficient and secure by deploying the latest blockchain technology to help clients reduce costs and drive new business. MoneyNetint joined Ripple in October of 2018.
MoneyNetint was able to reduce and simplify the FX conversion rates for their customers and also increase the speed of payments. The adoption of the blockchain technology to ensure low-cost cross border payments and secure transactions, resulted favorably for the success of this joint venture. As far as the implementation went it only took MoneyNetint 8 weeks to integrate RipplNet and to quickly on-boarded six other partners to the network.
Check out this image from MoneyNetint website….does this look familiar:
Head of Business Development Avi Starodubsky stated that:
“We have established a great relationship with the team at Ripple from day one. With their extensive experience in the field, they understand the pain points of applying new technology to the traditional payments world and were responsive to our requests and needs.”
MoneyNetInt is not currently using XRP but they have seen an increased demand for instant payments and are looking forward to the day when using a digital asset such as XRP to source on-demand liquidity during transactions on RippleNet.