Ripple Partners with Clear Junction to Enhance Cross-Border Payments in GBP and EUR
In an exciting development, Ripple has teamed up with global payments solutions provider Clear Junction to improve cross-border payouts in GBP and EUR currencies. This strategic collaboration, announced on Wednesday, aims to revolutionize the way payments are processed between the UK and the European Union, offering faster and more secure transactions.
Empowering Cross-Border Transactions
Through this partnership, Clear Junction will facilitate swift and dependable payouts in EUR and GBP for Ripple’s clients, significantly boosting transaction efficiency for businesses operating in these regions. Ripple also revealed plans to introduce more currencies later this year, expanding their payment capabilities.
Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the strong synergy between the two companies, praising Clear Junction’s support for Ripple’s use cases as the ideal partnership. Clear Junction’s extensive experience in banking and cross-border payments complements Ripple’s ongoing efforts to enhance payment solutions.
Enhanced Security and Compliance Measures
Clear Junction, an FCA-authorized e-money institution, boasts a robust operational framework that prioritizes fund security and compliance with industry standards. The company’s achievement of ISO 27001 certification underscores its commitment to the highest data security standards.
Dima Kats, Clear Junction’s founder, expressed excitement about the partnership, highlighting the opportunity to integrate cutting-edge blockchain technology into their services and drive innovation in correspondent banking. Kats believes that blockchain technology and cryptocurrencies will play a crucial role in reshaping the correspondent banking landscape, making the partnership with Ripple a significant step forward.
Expanding Global Presence and Capabilities
This collaboration will expand Ripple’s reach to over 55 countries, covering more than 90% of the global foreign exchange market. Ripple’s infrastructure empowers businesses to leverage blockchain technology for efficient cross-border transactions without requiring extensive expertise.
Established in 2016, Clear Junction offers e-money solutions, multi-currency payment accounts, treasury services, and virtual IBANs to licensed financial institutions. By partnering with Ripple, both companies can swiftly enter new markets and enhance their services.
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