$6 Billion Global Payments Unicorn Remitly Supports Ripple’s Tech And ChainFront Startup Boosts XRP
Ripple and its products especially XRP are in the spotlight again as they get support from more and more important names in the industry.
Remitly is a global payments unicorn which transfers huge amounts on a yearly basis.
We’re talking about $6 billion a year and they do this by allowing customers to make person-to-person international money transfers from the US.
The great thing is that they seem to be seriously considering implementing Ripple’s cross-border payment solutions.
The company is huge and they serve more than a million customers each year and most of them are in regions such as India, Mexico, and the Philippines.
Praising Ripple’s tech
Ripple and XRP researcher Steven Diep revealed a clip of Remitly CEO in which he’s explaining that he’s still hesitant to use crypto such as Bitcoin.
He also says that he definitely remains interested in the blockchain payments solutions such as the ones provided by Ripple.
“Think of us like a mobile phone alternative to Western Union or MoneyGram. We’re sending over $6 billion a year. In terms of scale and size we’re close to 1,000 people worldwide. We’ve raised close to $200 million in equity and, most importantly, we’ve served over a million people around the globe, and our customers tend to be immigrants,” he said.
He continues and says that they are paying a lot of attention to Ripple as they’re seeing more and more financial institutions integrating their services to make things less expensive for customers.
Remitly is paying a lot of attention to Ripple to integrate blockchain technology to drive down cost for financial institutions like themselves, therefore making it less expensive for consumers.
Matthew Oppenheimer, CEO of Remitly
Feb, 2019 pic.twitter.com/PsRGhxXYg5
— Steven Bull From the Diep (@DiepSanh) February 16, 2019
ChainFront startup supports XRP
Another great news for XRP is that is getting enhanced support these days which boost adoption without a doubt.
ChainFront is a startup that’s aimed at helping enterprise companies create crypto apps and they just added support for XRP and ETH.
”With the launch of our API for Ripple and Ethereum, ChainFront has created a way for developers to remove the complexity of interacting with Ripple or Ethereum for anyone,” they note.
The platform also supports Stellar and Bitcoin.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.