The American multinational financial services company, Visa Inc, will be associated with Earthport PLC, a UK-based financial services company. The companies have reached an agreement, in which Visa is buying the cross-border payment company for 198 million pounds, says a report published by Morningstar.
In particular, Ripple announced its partnership with Earthport in 2014. Earthport integrated Ripple's cross-border payment protocol into its existing payment network to enable its customers to benefit from lower liquidity management costs and to maintain regulatory standards.
However, we also note that several supporters of Ripple on various social media platforms have mentioned that this announcement can lead to a partnership between Ripple and Visa.
A Ripple shareholder recently tweeted:
"This is great news: Linking Points: Earthport is a Ripple partner, Visa is an Earthport partner, which would make Visa and Ripple a partner by default."
A Twitter user called Great Gaspy says:
#The visa that acquires Earthport is enormous. As we said before, we do not have a problem of immediate payment (Visa fa txn per second) we have a problem of liquidation and tracking. Now Visa does not have any of these problems. #XRP "
Another twitterati called HillDWXRP says:
"This does not make them partners, the partnership was between ripple and earthport, the visa can easily terminate any partnership, and since ripple is a competitor since I see the visa ending very soon"
This partnership was introduced after a difficult financial year for Earthport where it recorded low transaction volumes and various management issues. However, several reports suggest that after the announcement, the market shares of Earthport have increased significantly.
According to Earthport officials, this is an opportunity for shareholders to achieve immediate and attractive cash value in the business. They also believe Visa is a suitable and appropriate partner for its employees, partners, customers, customers and other stakeholders.
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