Friday, September 25, 2020

Ripple Partners with two new banks: Interbank and Vitesse

The Takeaway:

Ripple partnered with two other banks, Peru based Interbank and UK based Vitesse. Ripple also published the list of 6 of its main users which included MoneyGram, TransferGo, goLance, InstaReM, SendFriend, and Mercury FX.

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Ripple announced its partnership with two companies, Interbank and Vitesse. Interbank facilitates its users by giving them, ATM services as well as the change machines for exchanging the notes for the coin. It is a Peruvian bank and operates from the nation’s capital, Lima.

Interbank was founded in 1897 by Elias Mujica. Currently, it has assets worth 4 billion dollars. The other company that is joining Ripple is Vitesse. The UK based Vitesse was launched in 2013. It provides cross-border payment services to the banks with the help of a network known as a globally distributed settlement network.

Ripple has been promoting xRapid technology among financial companies. Previously Ripple CEO, Brad Garkinghouse announced a partnership with MoneyGram.

Ripple also published the list of its users or customers who have actively been using XRP. The list included companies like MoneyGram, TransferGo, goLance, InstaReM, SendFriend, and Mercury FX.

Ripple pointed out that these two companies are perfect because both Interbank and Vitesse focus on international-based payments which is what Ripple specializes in. The company believes that this could turn out to be a very beneficial pairing. Let us know in comments what do you think of Ripple’s partnership with two banks?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Glenn Harper
Glenn Harper
Glenn has only two interests: Bitcoin and Aviation. After completing his graduation from San Diego State University in 2006, Glenn started working in the airlines and aviation industry. Aviation was his only passion before he came to know about bitcoin in 2012 after which he decided to dedicate 8 hours of his day for aviation and 8 hours for learning and writing about bitcoin and the technology behind it. Glenn lives with his wife and a 7-year-old son who mines ethereum on his computer and is also quite passionate about cryptocurrencies.

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