Ripple Forms New Partnership to Improve CrossBorder Payouts in GBP and EUR

Ripple Partners with Clear Junction to Boost Cross-Border Payments for GBP and EUR
In an exciting development, Ripple has teamed up with global payments solutions provider Clear Junction to enhance cross-border payouts in GBP and EUR currencies. This strategic collaboration, announced on Wednesday, aims to revolutionize the way payments are processed across the UK and the European Union, ensuring faster and more secure transactions for customers.
Improving Cross-Border Transactions
Through this partnership, Clear Junction will enable swift and reliable payouts in EUR and GBP for Ripple’s clients, significantly improving transaction efficiency for businesses operating in these regions. Ripple also revealed plans to introduce additional currencies later this year, further expanding their services.
Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the strong synergy between the two companies, noting Clear Junction’s support for Ripple’s use cases as a key factor in the partnership. Clear Junction’s extensive experience in banking and cross-border payments complements Ripple’s efforts to provide advanced payment solutions seamlessly.
Enhanced Security and Compliance
As an FCA-authorised e-money institution, Clear Junction brings a robust operational framework that prioritizes fund security and compliance with industry standards. The company’s ISO 27001 attestation underscores their commitment to the highest data security standards, ensuring a safe and compliant payment environment.
Dima Kats, founder of Clear Junction, expressed excitement about the partnership, highlighting the integration of cutting-edge blockchain technology into their services. This collaboration with Ripple is seen as a significant step towards advancing correspondent banking and leveraging the potential of blockchain technology.
Expanding Global Reach and Capabilities
This partnership will enable Ripple to extend its presence to over 55 countries, covering more than 90% of the global foreign exchange market. Ripple’s innovative infrastructure allows businesses to utilize blockchain technology for efficient cross-border transactions without the need for specialized knowledge in the field.
Established in 2016, Clear Junction offers e-money solutions, multi-currency payment accounts, treasury services, and virtual IBANs to licensed financial institutions. The collaboration with Ripple will facilitate rapid market penetration for both companies, enabling them to reach new markets effectively.
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