Cambridge Global Payments to Use XRP

Cambridge joined five financial institutions who have announced that they are using the xRapid technology
01 March 2018   170

Cambridge Global Payments, a part of FLEETCOR Technologies and a big global provider of commercial payment solutions is launching a pilot program to use XRP coins in cross-border payment flows through xRapid solution. This is reported on the official Ripple website.

According to the publication, Cambridge currently has big audience - over 13,000 clients around the world and operates $20 billion in international transactions annually. Ripple says that XRP will provide their clients with a cross-border payments experience that is significantly faster, cheaper and more transparent.

We are excited for the insights this pilot program is expected to deliver, and we will use that information to help both Cambridge and FLEETCOR develop our use cases for blockchain in international payments.

Mark Frey

Chief operating officer, Cambridge Global Payments

Cambridge joined five financial institutions who have announced that they are piloting xRapid, including:

  • Cuallix, 
  • MoneyGram, 
  • IDT Corporation, 
  • Mercury FX
  • Western Union.

Blockchain roundtable organized in Japan

Japan`s regulator, Financial Services Agency (FSA) has opened some details of the closed-doors roundtable
21 March 2018   88

This meeting was arranged for regulators and central banks from many countries and it was connected with a wide multilateral joint research project on blockchain technology. The private conference was held on March 8 and 9, then FSA confirmed its report on Monday.

The financial regulators and central banks from a number of countries met Japanese and foreign academic institutions at the FSA-hosted roundtable. The representatives of the central banks of Singapore, Canada and Japan faced the financial regulators from the UK, France, Abu Dhabi, Hong Kong and the Australian security regulator. They discussed their points of view on the possibilities and disadvantages of the public (open) blockchain technology.

The FSA declared that the roundtable should definitely reveal the blockchain`s peculiar risks and opportunities. Also this financial regulator constantly researches possible weak spots of the public blockchain technology, relevant questions of its security and technical perspectives.

The list of subjects which were discussed at the roundtable includes the “Blockchain innovation and responsible user protection”, “Potential of blockchain”, “Blockchain tests and use cases - jurisdictional Proof of Concept” among others.

The FSA added that despite many details of the closed-door discussion stay under wraps, some common positions and challenges may be shared with the public while agreed upon by all the participants.

The banking market in Japan is aimed to be the largest consumer-end implementation of blockchain tech through a consumer payments application powered by Ripple. Therefore the largest central banks in the world were told cryptocurrencies “do not pose risks to global financial stability” during the ongoing G20 summit in Argentina by the international Financial Stability Board.