The San-Francisco based startup – Ripple the past weeks has declared out 5 new clients that are based in 4 different countries around the globe.
First, the banks from Brazil – the Itaú Unibanco and the Induslnd from India, along with InstaReM from Singapore, Beetech from Brazil also and Zip Remit from Canada which are money remittance firms. The companies will test out and try to adopt various Ripple solutions that the platform offers to improve real-time payments in a global range, based on the release.
Through using the Ripple xVia product, the money remittance companies Zip Remit and Beetech want to improve and facilitate the tunnels through which payments are done international targeting individuals, while Itaú Unibanco from Brazil, InstaReM and Induslnd are writing down plans to test and use xCurrent for international transfers to financial institutions.
In addition, both Beetech and Zip Remit plan to ultimately create a working relationship with China-based LianLian, which recently began using xCurrent.
According to Prajit Nanu – the CEO of InstaReM, the development will also help Ripple, as the blockchain startup’s other members will now be able to take advantage of the payment company’s growing network.
“Now, RippleNet members will be able to process a large number of payouts in Southeast Asian countries through InstaReM’s secure rails,” he said.
Patrick Griffing – Head of Ripple’s business development, highlighted out that signing down new partnerships would supports clients in emerging markets:
“Whether it’s a teacher in the U.S. sending money home to his family in Brazil or a small business owner in India trying to move money to open up a second store in another country, it’s imperative that we connect the world’s financial institutions into a payments system that works for their customers, not against them.”