San Francisco-based Ripple has signed new partnership agreements with five European and Asian financial companies. These are FairFX (UK), RationalFX (UK), Exchange4Free (U.K.), UniPAY (Georgia), and MoneyMatch (Malaysia).
All of these will use xVia feature to improve their payment systems.
xVia is the best solution for businesses, banks and other financial institutions that want to send money across different networks. As Ripple explains online, “xVia’s simple API requires no software installation and enables users to seamlessly send payments globally with transparency into the payment status and with rich information, like invoices, attached.”
The Senior Vice President of product at Ripple, Asheesh Birla refers in his presentation to the benefits of xVia by simplifying how businesses transfer payments online between different players on the market.
“By tapping our global network with xVia, our customers now access new markets quicker and cost efficiently. All of these customers run into the same problem: building bespoke connections to banks and networks all over the world. It’s expensive and time consuming. xVia enables them to grow their overall market share by reaching new customers in new markets, easier than ever before.”
Ripple’s xVia allows businesses to keep one connection between networks. This important aspect leads to the elimination of the unreliable transaction risk of payments made in a standard manner.
James Hickman, FairFX Chief Commercial Officer has expressed his enthusiasm, saying that:
“xVia will allow us to reach more people, more efficiently and at a lower cost. It will also enable us to deliver on our commitment to give customers the most transparent, efficient and truly global money transfer experience possible using RippleNet.”
Another partner, Chris Humphrey, RationalFX’s CEO stated that:
“This is an exciting new partnership for RationalFX, and we look forward to passing on the benefits of xVia to our clients across the globe.”
According to CoinMarketCap, Ripple is ranked 3rd in the top largest crypto platforms in the world with a market capitalization of $ 33,509,933,033. The company has lately been able to elaborate a huge portfolio of companies around the world with which Ripple collaborates.