Ripple has shared that it has partnered with Travelex Bank, enabling the Brazil-based financial institution to streamline global payment management. The objective is to grant 24/7 access to liquidity along with near-instant settlement. Travelex Bank and Ripple have joined hands to make payment solutions more affordable.
The community is bullish about this development. Joao Manuel Campanelli Freitas, the executive vice president of Travelex Bank, has said that Ripple has brought them payment solutions that have helped upgrade their direction in payment. The VP has further stated that joining hands with Ripple has paved the way for them to integrate with more customers.
That is evident from the fact that the Bank has added 10 new clients since it started working with Ripple’s network. The total number of customers served has also surpassed the milestone of 5 million.
Overall, Travelex Bank aims to expand into new corridors and provide a superior experience in global payment to its customers. It aims to grant access to international currencies in the most simplified way possible. Travelex Bank operates in over 20 countries and is the only domestic exchange bank the CBB has approved, the Central Bank of Brazil.
Ripple Payment and the Brazil-based financial institution have sparked optimism for the members of the Ripple community and customers of the bank. Customers are hopeful that partnerships like these will elevate their experiences, while members of the Ripple community are bullish that they will hike the trading value of XRP. The native token is exchanging hands at $0.6109 at the time of articulating this piece. The XRP forecast estimates that the token could skyrocket this year. Specifically for XRP, the token jumped by 1.91% in the last 24 hours and 3.30% in the last 7 days.
Meanwhile, Ripple is working to improve its payment solutions for all its partners across the globe. This is supported by announcements made at its annual conference. To begin, Ripple Payments can now sell its products and services in the US areas where it has money transmitter licenses.
Next, Ripple has narrowed down the onboarding process for 100% global payout coverage. Ripple’s international payment network facilitates over 70 payout markets. Finally, integration with the decentralized exchange that is native to XRP Ledger will make available liquidity to customers all over the world throughout the day and night.
Ripple has also integrated machine learning capabilities to manage the liquidity needs of its customers proactively.
Ripple Payments and Travelex Bank in Brazil joining hands is a positive sign for customers of the Bank and the community of Ripple. This will yield fruitful results like 24/7 access to liquidity and near-instant settlement. Also, it will make payment methods more affordable for global customers.