Today, Ripple (XRP) just added 5 new banking and digital payment institutions located in 4 different countries.
The new institutions that XRP partnered with are: Itau Unibanco from Brasil, Beetech from Brasil, Zip Remit from Canada, InstaReM from Singapore and the Induslnd from India. According to a press release, these companies adopted the Ripple technology to simplify real-time international payments.
According to Finextra, Itau Unibanco, InstaReM and Induslnd are planning to use xCurrent for real-time international transactions to financial entities. On the other hand, Beetech and Zip Remit are planning to use another technology from Ripple called xVia, a digital payment solution for corporates, payment providers and banks, to simplify international payment corridors for each individual client. They are also teamed up professionally with LianLian (a Chinese online and mobile payment company) which also started to use xCurrent.
The new partnerships will help customers in new markets mentioned Patrick Griffin, Ripple’s top manager in development,
“Whether it’s a teacher in the U.S. sending money home to his family in Brazil or a small business owner in India trying to move money to open up a second store in another country, it’s imperative that we connect the world’s financial institutions into a payments system that works for their customers, not against them.”
Prajit Nanu, InstaReM’s CEO, mentioned that it will also be advantageous for Ripple regarding the fact that they will now have the chance to take advantage of the payment company’s growing network.
“Now, RippleNet members will be able to process a large number of payouts in Southeast Asian countries through InstaReM’s secure rails,” he said.
There is also two other Household company with whom they team with that have not been announced. The distributed ledger now operates in more than 200 countries, so it is a big news for XRP to add these clients to its network.