Ripple (XRP) and TransferGo have partnered to launch an instant remittance to enable the two innovations in Europe and the multi-billion dollar Indian payment corridor, today's Gazette has learned.
In a TransferGo press release, Ripple's blockchain technology would be used to allow remittance transfers in real time. TransferGo customers can now initiate immediate cross-border payments from India to any part of Europe, thus allowing a total devaluation of Swift in India.
Daumantas Dvilinskas, founder and CEO of TransferGo showed his delight while the fintech is now among the first to kick-start real-time payment over the border.
The CEO has declared that Ripple's revolutionary blockchain technology will make TransferGo capable of reaching immediate communications with its agents in India, ie banks.
The latest innovation represents an important step forward for TransferGo customers to access international payments to families and friends without interruption and immediately.
At the moment, Ripple is celebrated as a main alternative for traditional slow communication systems like Swift which uses 2-3 days to make cross-border payments.
At the same time, Ripple and TransferGo are launching a free remittance service between Europe and India. However, the TransferGo Free service will take between three and four business days to deliver the payment.
Ripple (XRP) Swift's war begins in India
Recently, the Journal of today advertises that Swift has announced that it is launching an experimental test of instant immunity through cross-border payments in Asia Pacific, therefore war with Ripple (XRP) in the region