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Ripple is ready to improve its cross-border payment service and level of efficiency. Media outlets recently revealed that the ripple is adding new consumer payment platform called SendFriend in its native xRapid ecosystem.
The new feature is developed by the Translator Innovation Alliance award from MIT Media Lab specifically for the Philippines. The key mission behind the project is to allow easier access for expats to send and receive money around the world. However, the project was realized at MIT by the CEO and founder, David Lighten. In addition, the new platform is the winner of the Translator Innovation Alliance award from MIT Media Lab.
The platform is developed by focusing on millions of migrant workers, who pay excessive funds for international money transfers. Also during the interrogation, the new aspect of this feature, its CEO and founder, David Lighton, notes that;
"This allows us to be more efficient with our back-end capital, it's real-time settlements, so we do not have to pre-finance, we do not have to park the money in the reception corridor and then handle the exchange rate risk. We can do it one by one as the transactions go on. "
Ripple Partnership continues
Ripple, a technology company based in San Francisco, is from time to time on bulletins. He continued to establish partnerships with companies around the world. Since 2017, Ripple's XRP has become the most used form of payment in many international banks and financial institutions.
- During August 2018, Ripple announced the addition of three major cryptocurrencies to its cross-border payment settlement product.
- In the previous month, Ripple brought RippleNet to the Saudi Arabia National Commercial Bank.
- As an investment initiative in the business, Ripple announced Xpiring to support entrepreneurs wishing to join the XRP ecosystem.
- Moneynetint joins RippleNet to take advantage of Ripple's blockchain technology
What is your opinion on the latest XRP initiative? Will it really help people live far away and work hard for their loved ones?
