• Tue, 23 Jul 2019, 05:26 AM
  • 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) $10,242.60 (-3.34%)
  • Ethereum (ETH) $216.78 (-3.85%)
  • XRP (XRP) $0.319600 (-3.19%)
  • Litecoin (LTC) $94.24 (-4.72%)
  • Bitcoin Cash (BCH) $311.87 (-2.45%)
  • Bitcoin (BTC) $10,242.60 (-3.34%)
Jul 23, 2019 (Tuesday)
05:19
FINRA gives companies more chances to comply with crypto data request
05:03
Crypto exchange QuickBit confirms major data leak, likely to affect 300K users
04:45
Uganda looks to blockchain in counterfeit drug battle
04:05
UK lawmaker who busted Facebook-Cambridge Analytica scandal sets sights on Libra crypto
03:47
Singapore-based Forise International expands to blockchain consulting
03:41
Mercedes-Benz' parent company Daimler partners with Riddle & Code to develop crypto hardware wallet for cars
03:26
Binance lists GBP-backed stablecoin 'BGBP'
Jul 22, 2019 (Monday)
12:20
Crypto Technicals: IOT/USD recovery fails shy of 200-DMA, downside resumption likely
12:20
Former Token Foundry head begins process to sue Joseph Lubin for $13M
11:39
Blockchain firm R3 pushes for more Corda sales with new hire
11:26
South Korean citizen unaffiliated to Samsung files trademark application for 'Samsung Coin'
10:46
Former Russian crypto executive arrested in Italy
09:19
Blockchain startup Diana to launch 'lunar registry' to divide and tokenize the moon
08:39
Crypto Technicals: ETC/USD confirms 'Golden Cross' on hourly charts, eyes 21-EMA at 6.722
07:46
Iran finalizes power tariff scheme for crypto miners but no license for importing mining equipment yet
07:42
Crypto firm FairX closes digital doors due to lack of funding
06:34
Thailand shows less hostility towards Libra compared to other countries
06:23
European Central Bank official says calm down about stablecoin
05:42
No official ban on cryptocurrency yet, Indian Minister clarifies
05:16
Electric firm E.ON applies patent for blockchain-based data collector device
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft