Blockchain startup Ripple has announced five new customers of xVia – its solution for corporates, payment providers and banks who want to send payments across various networks using a standard interface.
The new customers include FairFX (U.K.), RationalFX (U.K.), Exchange4Free (U.K.), UniPAY (Georgia), and MoneyMatch (Malaysia). They will now use xVia to power frictionless payments over RippleNet – Ripple’s decentralized global payments network.
“By tapping our global network with xVia, our customers now access new markets quicker and cost efficiently,” said Asheesh Birla, senior vice president of product at Ripple. “All of these customers run into the same problem: building bespoke connections to banks and networks all over the world. It’s expensive and time consuming. xVia enables them to grow their overall market share by reaching new customers in new markets, easier than ever before.”
According to the official release, the new clients would now be able to maintain one standard connection through xVia, which would help in overcoming the problems associated with traditional wire transfers such as high failure rates and manual reconciliation costs.
“xVia is an API solution enabling payment originators - those sending a payment on behalf of a customer, but not actually processing and paying it out - to access and reap the benefits of RippleNet,” the release said. “This includes faster entry into new markets, lower operational costs, increased speed and end-to-end visibility over a payment’s journey.”
