Distributed ledger startup Ripple has added a new client to its global settlements platform, RippleNet.
UK-based remittance firm, Xendpay, announced a partnership with Ripple that allows the firm to enter new markets like the Philippines, Bangladesh, Malaysia, Vietnam, Indonesia, and Thailand.
According to a statement published August 21, RippleNet supports currencies that were previously inaccessible to the remittance firm. So called “smaller currencies,” including the Malaysian ringgit or Bangladeshi taka, formerly required Xendpay to form local banking partnerships.
Ripple Partnership Provides New Payment Rail for UK Remittance Firm