RippleNet Adds Another Feather To Cap With Chile Firm CurrencyBird Joining the Network July 30, 2019 July 30, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 30, 2019 by Kelly Cromley

RippleNet Adds Another Feather To Cap With Chile Firm CurrencyBird Joining the Network

Peer-to-peer remittance firm CurrencyBird, head-quartered in Chile, has become member of RippleNet, the blockchain powered real-time gross settlement service provider.

CurrencyBird has thus officially turned out to be the first Chilean payment firm to sign up with RippleNet, a network of corporate payment processors such as banks and cash facility companies that use Ripple-powered systems to transfer cash worldwide.

In the report, the firm says that the collaboration will enable it to introduce innovative alternatives to its 50 existing destinations, fresh currencies, superior rates and quicker completion of transaction.

As per information from non-profit association The Dialogue, remittances to home in Latin America and the Caribbean added to $85 billion in 2018. Remittances from Chile have allegedly proceeded to rise during 2017 and 2018, and may even have increased as a result of cross-regional movement in general. Chile got $66 million in private money transfers in 2018, according to World Bank information.

Especially, out of the allowed quantity of three billion XRP, Ripple used one billion from escrow every month in Q2 2019. Subsequently, 2.1 billion of the three billion were invested back in escrow agreements, whereas the remaining 0.9 billion were supposedly used to finance XRP improvements through associations with Xpring and RippleNet.

Earlier this year, after signing up five new customers— JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank— RippleNet surpassed 200 international customers who use XRP in cross-border remittances.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.