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

Ripple Partners with Clear Junction to Enhance Cross-Border Payments in GBP and EUR
In an exciting development, Ripple has teamed up with Clear Junction, a leading global payments solutions provider, to revolutionize cross-border payouts in GBP and EUR currencies. This strategic collaboration, announced on Wednesday, aims to optimize the capabilities of EUR and GBP payouts for their mutual customers. This new partnership is set to transform the way payments are processed across the UK and the European Union borders, ensuring faster and more secure transactions.
Improving Cross-Border Transactions
Clear Junction will now enable swift and dependable payouts in EUR and GBP for Ripple’s clients, significantly enhancing transaction efficiency for businesses operating in these regions. Ripple also revealed plans to introduce additional currencies later this year, further expanding their payment solutions.
Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the strong synergy between the two companies, highlighting Clear Junction’s seamless support for Ripple’s use cases. Additionally, Clear Junction’s vast experience in banking and cross-border payments complements Ripple’s commitment to delivering top-notch payment solutions.
Enhanced Security and Compliance
As an FCA-authorised e-money institution, Clear Junction offers a robust operational framework that prioritizes fund security and compliance with industry standards. The company’s ISO 27001 certification underscores its dedication to maintaining the highest data security standards.
Dima Kats, the founder of Clear Junction, expressed excitement about the partnership, noting that joining forces with Ripple allows them to incorporate innovative blockchain technology into their services, driving the evolution of correspondent banking. Kats believes that blockchain technology and cryptocurrencies will play a crucial role in reshaping the correspondent banking landscape, highlighting the potential for innovation and development in this space.
Expanding Global Presence and Capabilities
This collaboration will expand Ripple’s reach to more than 55 countries, covering over 90% of the global foreign exchange market. Ripple’s cutting-edge infrastructure enables businesses to leverage blockchain technology for seamless, cost-effective cross-border transactions, even without extensive 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. The partnership with Ripple will facilitate both companies’ swift entry into new markets, further enhancing their capabilities.
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