The client base of RippleNet, Ripple’s distributed ledger-based payments network, continues to grow.
Customers of Singapore-based InstaReM and Sao Paulo, Brazil-based BeeTech, two global money transfer companies, can now take advantage of the speed, transparency and lower costs offered by Ripple’s product.
Blockchain-based remittances between Latin America and the Southeast Asian and European markets serviced by InstaReM, will be expedited by the partnership.
BeeTech founder and CEO Fernando Pavani, remarked:
“This partnership on RippleNet provides our customers a one-stop shop experience, including the ability to send payments and access new suppliers across more than 60 markets through xVia – a simple API connection.”
The Kuwait Finance House, declared on May 26, that it will be employing RippleNet’s service for cross-border payments. The newly signed up firm asserts it is the first Kuwaiti bank becoming a member of a blockchain-powered network.
At least six banks plus the South Korean exchange have enrolled to Ripple’s diverse payments instruments in the last month alone.