Financial giant Visa is buying Earthport Plc, cross-boarder payment network, partner of Ripple. This is reported by Cointelegraph
Earthport was founded back in 1997. Based in the capital of Great Britain, financial company provides payment service to banks and financial institutions. Partnetship with Ripple was made for XRP protocol integrating into company's payment network to improve international transactions.
It is reported that deal was made for £198 million ($251 million), or 30 pence ($0.38) per each Earthport share; this exceeds the stock’s Monday closing price of 7.45 pence by over four times
Shares of Earthport, traded on the London Stock Exchange, lost about 28% this year due to growing losses and expenses. After that, company considered changes in its strategy.