Moneynetint Joins Ripple’s (XRP) Instant Payment Network

Another major signing has been recorded by Ripple (XRP) as UK e-money outfit Moneynetint notified that it has partnered with Ripple to use the firms blockchain-based instant payments rails.

Moneynetint has completed the deployment of RippleNet, and has also signed partnership agreements with two other networks, enabling it to process payments in a decentralised manner.

Speaking on the development, Nadeem Ladki, director, account management at Ripple, says: “By leveraging Ripple’s blockchain technology, Moneynetint will now be able to simplify and reduce the FX conversion rates for their customers, increase the speed of settlement and offer services to new markets that would otherwise have been too difficult or too costly to reach in the past.”