Chinese Payment Service LianLian Joined RippleNet

According to Ripple, joining LianLian to the network will allow existing members of RippleNet to enter the Chinese market
08 February 2018   286

The Chinese payment service LianLian has joined RippleNet, a payment network that uses Ripple's blockchain for international transactions. This is reported by CoinDesk.

LianLian Pay will use the xCurrent solution from Ripple, which will help the service to perform cross-border transfers within one day. It is worth noting that xCurrent, unlike xRapid, does not use the XRP crypto currency.

With RippleNet, we will further enhance that experience by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support.

Arthur Zhu,

CEO, LianLian International

According to representatives of Ripple, joining LianLian to the company's network will allow existing members of RippleNet to enter the Chinese market.

LianLian was founded in 2003 and operates with the permission of the People's Bank of China. Among other things, the company provides tools for accepting payments to online retailers, including JD com.

Ripple to Work with Saudi Arabia’s Central Bank

Saudi Central Bank provides sandbox for banks to try out Ripple technology  
14 February 2018   126

Together with the Saudi Arabian Monetary Authority (SAMA), Ripple is going to create a pilot programme to enable local banks to deploy xCurrent for cross-border payments.

This pilot programme will provide interested Saudi banks with program management and training. it is the first of its kind to be launched by a central bank.

According to Dilip Rao, global head of infrastructure innovation at Ripple, central banks all over the world are interested in blockchain technology in order to understand how it can transform cross-border payments. It will result in lower barriers for both corporations and consumers.

SAMA will provide resources to domestic banks that want to enable instant payments using Ripple’s innovative blockchain solution. It has the potential to revolutionise cross-border payments, making it cheaper and more transparent. SAMA will be the second central bank to use blockchain technology to revolutionize payments.