Ripple Teams Up With Ria Money Transfer, A Large Money Transfer Provider

Ripple partnered up with Ria Money Transfer, one of the world’s most significant money transfer providers. Part of the Euronet Worldwide, Ria Money Transfer, joined RippleNet and will use the xCurrent platform to conduct transactions with more than 200 financial institutions that use Ripple’s global blockchain payments network.

xCurrent, one of the platforms designed and operated by Ripple, allows the participating financial institutions to conduct instantaneous international cross-border payments at low fees and high-security standards.

“We are using our technology to actively support parties who are making inroads to disrupt the more traditional players by providing them with state-of-the-art technology and immediate access to our expansive physical network (…) We signed an agreement with Ripple that gives Ripple access to Ria’s global physical and digital footprint, while also allowing Ria’s customers to connect and transact with Ripple’s network which includes more than 200 financial institutions worldwide,” stated Michael Brown, CEO at Ria.

Ripple Teams Up With Ria Money Transfer, A Large Money Transfer Provider

The partnership with Ripple will help Ria Money Transfer, which operates in more than 155 countries and 377,000 locations around the world, to provide more efficient and faster payments to its customers. Ria Money Transfer transacts more than $40 billion per year.

ria money transfer - Ripple Teams Up With Ria Money Transfer, A Large Money Transfer Provider

“At Ria, we have developed the second largest Money Transfer network in the world along with a best-in-class compliance program all connected by our proprietary technology. Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners,” said Euronet’s Money Transfer Segment CEO, Juan Bianchi.

Ripple, on the other side, is also enjoying the new partnership with Ria Money Transfer, one of the largest money transfer providers in the world. The deal with Ria increased the list of Ripple’s partnerships with significant players in the financial sector.

“Ria is one of the top money transfer players in the industry, with the second largest network in the world and is known for its world-class service. By joining RippleNet, Ria not only enhances our value chain for our partners but will continue to improve remittance times and costs for both their customer and enterprise clients,” stated Ripple’s senior VP of customer success, Marcus Treacher.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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