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

Ripple Teams Up with Clear Junction to Enhance Cross-Border Payouts for GBP and EUR Currencies
In an exciting development, Ripple has announced a strategic partnership with Clear Junction, a global payments solutions provider, to improve cross-border payouts in EUR and GBP currencies. This collaboration aims to revolutionize the way payments are processed between the UK and the European Union, offering faster and more secure transactions for their customers.
Empowering Cross-Border Transactions
Through this joint venture, Clear Junction will enable quick and dependable payouts in EUR and GBP for Ripple’s clients, significantly boosting the efficiency of transactions for businesses operating in these regions. Additionally, Ripple has revealed plans to introduce support for more currencies later this year, expanding their reach even further.
Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the strong synergy between the two companies, praising Clear Junction’s support for Ripple’s use cases as the perfect partnership. She also highlighted Clear Junction’s extensive experience in banking and cross-border payments, complementing Ripple’s efforts to provide top-notch payment solutions.
Enhanced Security and Compliance
As an FCA-authorized e-money institution, Clear Junction brings a robust operational framework to the table, ensuring the security of funds and compliance with industry standards. The company’s ISO 27001 attestation underscores their commitment to maintaining the highest data security standards.
Dima Kats, Clear Junction’s founder, expressed excitement about the partnership, noting that integrating Ripple’s blockchain technology into their services will drive innovation in correspondent banking. Kats believes that blockchain technology and cryptocurrencies will play a crucial role in transforming the correspondent banking landscape, making this partnership with Ripple a significant step forward.
Expanding Global Reach and Capabilities
This collaboration will expand Ripple’s presence in more than 55 countries, covering over 90% of the global foreign exchange market. Ripple’s infrastructure allows businesses to harness blockchain technology for seamless cross-border transactions, without requiring specialized expertise 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. This partnership with Ripple will enable both companies to enter new markets swiftly and effectively, leveraging each other’s strengths for mutual growth and success.
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