Ripple is a renowned provider of the leading enterprise blockchain solutions for payments. It provides one smooth experience in sending money universally, leveraging the power of blockchain technology. As such, by joining the Ripple global network, financial organizations are able to instantly, reliably, and cost-effectively process their clients’ payments anywhere in the world. Banks and payment providers can use the XRP digital asset to further lessen their costs, as well as access new markets. Most noteworthy, RippleNet has over a hundred customers globally.
PNC Treasury Management Joins RippleNet
Ripple and PNC Bank yesterday announced that PNC Treasury Management has joined RippleNet. Consequently, PNC’s commercial customers will in the near future be at a position to receive real-time, cross-border remittances through Ripple.
With RippleNet as leverage, a commercial customer in the United States receiving a payment from an abroad buyer will instantly receive remittances against their invoices. Certainly, this transforms the manner in which they manage the receivables of their global account. Most significantly, they will be able to preside over their working capital more effectively.
“For far too long, the technology underlying cross-border payments has been opaque, slow and costly. PNC understands the promise of emerging technologies like blockchain,” said SVP of Customer Success at Ripple, Marcus Treacher. “Quite a few payment providers have joined RippleNet recently. It’s great to see one of the major U.S. banks come on board as well. Most importantly, we view that as a sign of a diverse, healthy, and growing network,” he added.
RippleNet Is Now Live in over 40 Countries across Six Continents
Ripple yesterday announced that RippleNet, Ripple’s network, is at the moment live in more than forty countries, covering 6 continents. Most noteworthy, RippleNet hit the milestone earlier yesterday as new payment corridors opened up in a number of countries. Significantly, with these new open corridors, more connection points are established for RippleNet affiliates around the globe. New corridors are at the moment in countries where there are large remittance and small business payment needs. Consequently, these include:
- Brazil to Spain, France, Germany, Portugal, and Italy via Beetech and InstaReM.
- The United Kingdom to Malaysia, Sri Lanka, Indonesia, Bangladesh, and Vietnam via InstaReM, RationalFX, and Xendpay.
- Canada to Nigeria via Remitr and FlutterWave.
“By opening up new corridors across North America, Europe, Africa, and Asia, we’re expanding the global footprint of individuals who can benefit from faster and cheaper cross-border payments,” said Treacher. “Whether it’s global banks or technology-forward payments providers like RationalFX, Remitr and Beetech, financial institutions are focused on building connections between themselves so that they can better leverage Ripple’s blockchain technology to help people and businesses in need,” he added.
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