• Thu, 21 Nov 2019, 09:45 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Currencies Direct taps blockchain startup Ripple’s xCurrent for real-time remittances to India

Image: Glassdoor

Tue, 11 Dec 2018, 11:19 am UTC

Currencies Direct, a UK-based foreign exchange and payment solutions company, is going to launch a new real-time cross-border remittance to India using blockchain startup Ripple’s solution, Finextra reported.

The company will use Ripple’s xCurrent payment protocol which allows banks to message each other in real-time to confirm payment details before a transaction is initiated and to confirm delivery after settlement. For customers, the solution will enable them to track their payments at every stage.

“xCurrent is Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking,” according to Ripple’s website.

xCurrent also includes a Rulebook that ensures operational consistency and legal clarity for every transaction.

“Our partnership with Ripple showcases the future of international payments and how technology can greatly improve the customer experience. When you think about the vast volumes of money that are being transferred around the world and to India specifically, it’s only right that customers have the ability to check the status of their funds at every stage,” Vivek Awasthi, chief information officer at Currencies Direct, said.

“Whether you’re a consumer, sole trader, financial director or controller, people always want to have visibility of their money and we see xCurrent as a gamechanger for payments.”

The launch will follow a successful trial conducted by Currencies Direct in May 2018 in which it completed an international payment over Ripple’s xRapid platform using XRP.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,633.15 (-5.02%)
  • Ethereum (ETH) $160.35 (-8.83%)
  • XRP (XRP) $0.243100 (-3.16%)
  • Bitcoin Cash (BCH) $225.01 (-7.85%)
  • Litecoin (LTC) $50.84 (-8.25%)
  • Bitcoin (BTC) $7,633.15 (-5.02%)
Nov 21, 2019 (Thursday)
14:01
Binance.US teams up with crypto brokerage Tagomi to offer institutional liquidity
12:29
Chinese authorities move forward with plans to introduce blockchain standardization
11:54
Crypto Technicals: XRP/USD grinds lower capped below 5-DMA, bearish bias intact
10:15
Malta-based Binance acquires Indian crypto exchange WazirX
09:30
Crypto Technicals: ETH/USD drops below cloud, hits new 4-week lows, bias bearish
09:11
TradeStation Group's new crypto brokerage platform launches for approved countries, U.S. states
08:52
Libra will be classified once it goes live; PayPal explains why it backed out of the Association
07:56
Facebook’s Libra marches ahead, logs 34 projects since testnet launch in September
06:47
Crypto exchange Shapeshift introduces commission-free trading
06:36
Crypto Technicals: LTC/USD confirms 'Death Cross' on 4-hour charts, scope for downside resumption
06:04
Bitcoin.com to launch $200M bitcoin cash investment fund in 2020
05:34
CryptoCompare drops Binance out of its Exchange Benchmark; Hacking incident cited behind the decision
04:50
Crypto Technicals: BTC/USD extends consolidation above 55W EMA (7951), bias bearish
04:50
1.4M GateHub user information compromised five months after it suffered a hacking incident
04:46
$400M of Ripple’s XRP token linked to illicit activity: Elliptic
03:01
Federal Reserve chairman doesn’t see benefits of CBDC for U.S. consumers
Nov 20, 2019 (Wednesday)
12:47
MAS launches consultation on allowing crypto derivatives trading on approved exchanges
11:49
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:49
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:22
Chinese firms HDFH, ZVCA and Yillion Bank launch $1B blockchain investment fund
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft