According to a recent press release by Ripple, Instarem has embarked on a significant step by adopting Ripple’s payment solutions to enhance its internal treasury operations. The primary focus of this collaboration is to streamline treasury processes for Instarem and its extensive base of small and medium enterprise (SME) clients. The integration of Ripple Payments is expected to significantly reduce transaction processing times by at least 50%, a testament to the transformational potential of blockchain technology.
Strengthening Financial Operations through Innovative Blockchain Solutions
As a prominent player in the global remittance sector, Instarem has maintained a strategic alliance with the San Francisco-based blockchain giant since 2018. The initial aim was to simplify the complexity of cross-border payments for its diverse international clientele. However, the recent development signifies a deepening partnership, with a specific focus on optimizing internal treasury functions.
Yogesh Sangle, the Head of Instarem, shed light on the essence of this extended collaboration in a recent interview. He highlighted how Ripple’s treasury solutions are instrumental in managing liquidity for both internal operations and the SME customers that Instarem serves. Sangle emphasized the scalability that Ripple’s solutions bring, enabling operations to transcend traditional limitations and significantly enhance efficiency.
"Speed is one of the strengths that Ripple brings to the table.” – Yogesh Sangle, Head of Instarem
Learn how @getinstarem is leveraging our payments solution to reduce transaction times by 50% for their global SME customers. 🌎 https://t.co/eUPD5yOXcY
— Ripple (@Ripple) August 13, 2023
In particular, Sangle pointed out that speed is a key strength that Ripple contributes to the payment landscape. He expounded on the global nature of Instarem’s customer base, spread across 40 different geographical locations, necessitating a seamless 24/7 service. In this context, Ripple’s rapid transaction capabilities align perfectly with the demands of Instarem’s diverse clientele.
Ripple, in its press statement, underscored the vast scale of its global remittance ecosystem, encompassing more than 90% of the world’s foreign exchange business. With this expansive network, Ripple presents itself as a strategic partner capable of driving substantial enhancements to Instarem’s treasury operations through the integration of its blockchain solutions.
As the partnership between Instarem and Ripple deepens, the integration of blockchain technology into treasury operations holds the potential to reshape the efficiency, speed, and overall performance of financial processes. By leveraging Ripple’s blockchain expertise and Instarem’s industry know-how, this collaboration signifies a step forward in redefining how financial institutions optimize their operations to meet the demands of a rapidly evolving digital era. As the two entities work in tandem, the landscape of global remittance and financial technology is poised for transformation.