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

In a bid to enhance cross-border payouts in GBP and EUR currencies, Ripple has teamed up with global payments solutions provider Clear Junction.
The collaboration, announced on Wednesday, aims to revolutionize the payout capabilities of customers dealing with EUR and GBP transactions. This strategic alliance is set to transform the payment processing landscape across the UK and the European Union, promising quicker and more secure transactions.
By partnering with Clear Junction, Ripple’s clients can now enjoy swift and reliable payouts in EUR and GBP, boosting transaction efficiency for businesses operating in these regions. Plans to introduce additional currencies later this year are also in the pipeline.
Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the seamless integration between the two companies, praising Clear Junction’s support for Ripple’s use cases as an ideal partnership. Craddock also highlighted Clear Junction’s extensive experience in banking and cross-border payments, enhancing Ripple’s efforts to provide advanced payment solutions.
Clear Junction, an FCA-authorized e-money institution, brings a robust operational framework that ensures fund security and compliance with industry standards. With ISO 27001 attestation, the company underscores its commitment to the highest data security standards.
Dima Kats, Clear Junction’s founder, expressed excitement about the partnership, noting that teaming up with Ripple allows them to incorporate cutting-edge blockchain technology into their services, driving the evolution of correspondent banking.
The collaboration is set to expand Ripple’s reach to over 55 countries, covering more than 90% of the global foreign exchange market. Businesses can leverage Ripple’s infrastructure to harness blockchain technology for cost-effective cross-border transactions without extensive expertise.
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 swiftly penetrate new markets and enhance their capabilities.
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