Ripple to be used as Payments by InstaReM and BeeTech

Singapore-based company InstaReM and FX provider offering services in Latin America, BeeTech recently declared about their partnership using Ripple products
01 June 2018   889

The partnership is mainly aimed on opening a new payments corridor between South East Asia and Latin America. As claimed in the official details, the banks are going to use Ripple’s xCurrent and xVia products to provide real-time payment system across borders of the target areas.

xCurrent product also supplies end-to-end tracking resolves for transactions that will provide banks with the ability to message each other in real time. The product is also presented by a rulebook which is developed by Ripple as well as the RippleNet Advisory Board to ensure legal clarity and consistency.

Because of the standard interface for payments across different networks of the xVia product, the users will be able to send payments globally with transparency. It also has the facility of attacking rich information and payment status.

The connectivity that Ripple’s innovative blockchain network provides will allow us to offer our customers - including corporates and small businesses - quick, hassle-free payments into BeeTech’s markets.
Prajit Nanu,
CEO, InstaReM

InstaReM clients will have the possibility to send real-time payments into South America. The new solution will also let BeeTech customers access instant payment services using xVia, in those 60 markets that are managed by InstaReM. 

RippleNet Now Has Over 200 Participants

According to Brad Garlinghouse, during 2018, RippleNet was replenished with 100 financial institutions
09 January 2019   264

RippleNet was joined by 13 more financial institutions. Now network has more than 200 participants.

New partners of RippleNet are Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual / USEND and Rendimento.

JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank involve the XRP token in their operations. Ripple is confident that this digital asset is great for cross-border payments, as it increases their speed and reduces costs.

According to Ripple CEO Brad Garlinghaus, during 2018, RippleNet was replenished with 100 financial institutions.