According to a recent report, UK-based money transfer provider RationalFX Ltd (“RationalFX”) has partnered with Ripple. The partnership is aimed at making it easier and faster to transfer money globally.
According to the two co-founders of RationalFX, Agrawal and Paresh Davdra, this partnership is inline with the company’s main vision of providing a much better and cheaper way for people and businesses to transfer money overseas than going via a bank. The company which was founded in the year 2005; has been able to scale itself into becoming one of Europe’s key international payment providers without any borrowing or external investment.
RationalFX now has over 100,000 clients, and it has processed around $10 billion in payments.
The firm announced its partnership with Ripple via a recent tweet it made using its official handle.
The tweet reads:
“We’ve partnered with #Ripple, to make your money transfers faster, easier and more secure. Join the thousands of clients currently using RationalFX to manage their international money transfers. Find out more > http://ow.ly/Hdva30oik3Z #Ripplenet #ForeignExchange”
Ripple initially spoke about RationalFX in a blog post dated almost a year ago (on 26 April 2018). In the post, Ripple mentioned the firm is a new customer. The post was titled “xVia Opens New Doors in Emerging Markets” and it was posted on its Insights blog.
In this blog post, Ripple explained what xVia is and the connection between it and the firm. Excerpt from the blog post reads:
“xVia allows for financial institutions and businesses to easily send payments to and from emerging markets by leveraging the benefits of RippleNet — Ripple’s decentralized global payments network. By providing a standard API solution, xVia lets companies that want to send payments — payment providers, digital wallets and other corporates — quickly scale their businesses, differentiate their services and address their customers’ unique needs. The individuals and businesses that rely on them can send payments faster and cheaper anywhere in the world.”
It then continued that:
“FairFX, Exchange4Free, RationalFX, UniPAY and MoneyMatch” would be leveraging “xVia’s standard API solution to power payments through RippleNet and access new markets, including emerging markets faster and more efficiently.”
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