Ripple Announces New Partnership to Improve CrossBorder Payouts in GBP and EUR

Ripple partners with global payments provider Clear Junction to enhance cross-border payments in GBP and EUR currencies.
In an exciting development on Wednesday, Ripple unveiled a strategic collaboration with Clear Junction to improve the payout capabilities of their customers in EUR and GBP. This groundbreaking partnership is set to revolutionize the payment processing landscape across the UK and the European Union, promising quicker and more secure transactions.
Revolutionizing Cross-Border Transactions
Through this innovative partnership, Clear Junction will facilitate swift and dependable payouts in EUR and GBP for Ripple’s clients. This initiative is expected to significantly boost transaction efficiency for businesses operating in these regions. Additionally, Ripple has hinted at plans to incorporate additional currencies later this year.
Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the strong synergy between the two companies, praising Clear Junction’s ability to seamlessly support Ripple’s use cases. She highlighted the vast experience of Clear Junction in banking and cross-border payments, which complements Ripple’s commitment to delivering top-notch payment solutions.
Enhanced Security and Compliance
As an FCA-authorized e-money institution, Clear Junction brings a robust operational framework that prioritizes fund security and compliance with industry standards. The company’s attainment of ISO 27001 certification underscores its dedication to maintaining the highest data security standards.
Dima Kats, Clear Junction’s founder, expressed excitement about the partnership, emphasizing the opportunity to integrate cutting-edge blockchain technology into their services. He believes that blockchain technology and cryptocurrencies have the potential to reshape correspondent banking significantly. Kats stated, “We are thrilled to partner with Ripple, recognizing the immense potential for innovation in this space.”
Expanding Global Footprint and Capabilities
This partnership is set to broaden Ripple’s reach to more than 55 countries, covering over 90% of the global foreign exchange market. Ripple’s cutting-edge infrastructure enables businesses to harness blockchain technology for seamless, cost-effective cross-border transactions, even without extensive expertise in the field.
Established in 2016, Clear Junction offers e-money solutions, multi-currency payment accounts, treasury services, and virtual IBANs to licensed financial institutions. This collaboration with Ripple will empower both companies to swiftly penetrate new markets and drive growth.
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