Ripple Forms New Partnership to Improve GBP and EUR CrossBorder Payments

Ripple Teams Up with Clear Junction to Enhance Cross-Border Payments for GBP and EUR
In an exciting development, Ripple has announced a strategic partnership with Clear Junction, a global payments solutions provider, to improve cross-border payouts in GBP and EUR currencies. This collaboration aims to revolutionize the way payments are processed between the UK and the European Union, promising faster and more secure transactions for customers.
The partnership with Clear Junction will allow Ripple’s clients to enjoy swift and reliable payouts in EUR and GBP, enhancing the efficiency of transactions for businesses operating in these regions. Ripple plans to introduce additional currencies later this year, further expanding its services.
Cassie Craddock, Ripple’s Managing Director for Europe, emphasized the strong synergy between the two companies, praising Clear Junction’s ability to support Ripple’s use cases right from the start. Craddock also highlighted Clear Junction’s extensive experience in banking and cross-border payments, which complements Ripple’s efforts to provide innovative payment solutions.
Clear Junction, as an FCA-authorised e-money institution, brings a robust operational framework to the partnership, ensuring the security of funds and compliance with industry standards. The company’s ISO 27001 attestation underscores its commitment to the highest data security standards.
Founder of Clear Junction, Dima Kats, expressed excitement about the partnership, noting that integrating blockchain technology into their services through Ripple will advance the evolution of correspondent banking. Kats believes that blockchain technology and cryptocurrencies will play a crucial role in reshaping the correspondent banking landscape.
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 leverage blockchain technology for efficient cross-border transactions without requiring extensive expertise in the field.
Clear Junction, established in 2016, offers e-money solutions, multi-currency payment accounts, treasury services, and virtual IBANs to licensed financial institutions. The partnership with Ripple will enable both companies to quickly and effectively enter new markets, further expanding their global reach and capabilities.