Finastra Joins RippleNet to Support Cheaper Cross-Border Payments
Helen Partz's original article for cointelegraph.com reduced by 75%
United Kingdom-based financial software firm Finastra has partnered with Ripple to join RippleNet, a global blockchain payments network with over 200 members. As officially announced by Ripple on Oct. 9, the new partnership will allow hundreds of Finastra's customers to connect and transact with RippleNet to provide faster and cheaper cross-border payments.
In turn, over 200 financial institutions on RippleNet will have access to Finastra's network of banks, allowing mutual customers to access and partner with each other, the firm stated. On-demand liquidity with XRP. Additionally, Finastra's customers will have the option to use on-demand liquidity, which leverages Ripple's cryptocurrency XRP for cross-border payments.
"Finastra's collaboration with Ripple is another strong example of Finastra's belief that the future of finance is open, and it demonstrates our commitment to bringing the latest innovations and choices to our customers." Finastra has been an active player in the financial blockchain applications sphere. As Cointelegraph reported on Oct. 3, Samsung's mobile payments service Samsung Pay has partnered with RippleNet member Finablr to offer cross-border payments feature Money Transfer to its app's users.
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