Cuallix Uses Ripple for Cross-border Payments from the US to Mexico | Finance Magnates

By 11th October 2017All, Blockchain, Cryptocurrency

Cuallix Uses Ripple for Cross-border Payments from the US to Mexico | Finance Magnates

Ripple announced today that Bexs Banco, Credit Agricole, Cuallix, Currencies Direct, dLocal, IFX, Krungsri, RAKBANK, and TransferGo, among others, have joined RippleNet. Now more than 100 financial institutions, including banks, payments providers and more, use Ripple’s blockchain technology.

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“xVia allows us to tap into RippleNet to send make international cross border payments instantly on behalf of our international corporate clients seamlessly and efficiently bringing much needed benefit to their working capital cycle,” said Khalid Talukder, Chief Revenue Officer at IFX.

Brad Garlinghouse

“Global payments are undeniably going through a sea change, led by financial institutions adopting blockchain to fix their customers’ broken payments experience,” said Brad Garlinghouse, CEO of Ripple. “Now more than 100 financial institutions are looking to Ripple as the solution to the problem. Updating their payments infrastructure with Ripple has become the equivalent of a retailer choosing to build an e-commerce business in the year 2000 — it’s a no brainer.”

Mexican micro-payments

Cuallix became the first worldwide institution to use xRapid — Ripple’s solution that utilizes XRP as a liquidity tool — to reduce the cost of sending cross-border payments from the US to Mexico. “Our business — and our customer’s livelihood — depends on our ability to send micro-payments easily and quickly to Mexico. With xRapid, we can source liquidity through XRP and complete the cross-border payments in seconds,” commented the company

Last month Ripple announced the expansion of its global footprint with a new office in Singapore.

Original Source: https://www.financemagnates.com/cryptocurrency/news/cuallix-uses-ripple-cross-border-payments-u-s-mexico/