Currencycloud – one of the global payment processing giants – has become the latest member of the RippleNet family and would help ripple in expanding its cross-border remittance services further. The B2B payment processing giant is known to work with several small and medium business entities before joining the RippleNet.

RippleNet, a venture of Ripple blockchain, is known for its cross-border remittance solutions and has partnered with hundreds of banks, financial institutions, and payment processing giants to avail fast and cheap cross-border transactions using XRP as liquidity.

RippleNet aims to be the payment processor for a rapidly-changing world and is banking on the wave of globalization moving from west to east.

Asia is one of the footholds for the decentralized tech provider firm, and they have made aggressive expansion in the region with new members and services regularly.

Currencycloud, which has been working with Small and Medium Enterprises (SME), aims at expanding its service to help its new partners, especially in a world where traditional banks often overlook SMEs for big MNCs. The payment processing giants hope to reach new firms and SMEs who are deprived of the banking facilities up until now.

Ripple, which calls itself a decentralized tech company, ventured into remittance services through RippleNet a few years back, and even though the XRP token hasn’t managed to see a price break though, in a very long time, the cross-border solutions have garnered a lot of popularity over the years.

Ripple now boasts over 350 clients and recently updated its official website to include its new partners.

Mike Laven, CEO of Currencycloud, commented on their recent association with RippleNet and hoped the partnership would be mutually beneficial, helping them in expanding their network to new parts of the world. He said:

“Currencycloud is all about bringing clarity, speed, and value to the traditionally opaque, costly, and time-consuming issues associated with cross-border payments, particularly for SMEs that have historically been under-served by traditional banking. Ripple’s solution will help us to extend our network to new parts of the world, removing more barriers to payments for our clients.”

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