Ripple taps Clear Junction for GBP and EUR payout coverage

Rick Steves

Several other currencies will be added to the payout service later this year.

ripple coins

Ripple Labs has partnered with Clear Junction for instant and secure GBP and EUR-denominated payout coverage for Ripple’s payments customers, with several other currencies being added to the service later this year.

The blockchain developer behind XRP provides several enterprise solutions, including Ripple Payments which is the required infrastructure for businesses to leverage blockchain for cross-border payments without needing to be an expert.

Ripple Payments delivers an end-to-end customer experience, simplified network partnering, liquidity management solutions, lines of credit, and state-of-the-art infrastructure to enable real-time payments.

The company serves hundreds of customers in over 55 countries and on six continents, with payout capabilities in over 80 markets representing more than 90% of the global FX market.

“For our clients sending payments into the UK and European Union”

Ripple Payments will now leverage Clear Junction, the UK FCA-authorized e-money institution that boasts an ISO 27001 certification, the highest global data security standard that businesses can achieve.

Established in 2016, Clear Junction enables quick and safe access to multi-currency payment accounts, e-money accounts, virtual IBANs, and treasury services for regulated financial institutions. Clear Junction allows clients to shorten the time to market they typically face when establishing banking relationships, access new markets, and tap into game-changing technologies and expertise.

Cassie Craddock, Managing Director, Europe at Ripple, said: “Clear Junction is a great fit for Ripple. From the word go, it was able to support all of our use cases, including providing GBP and EUR payout coverage for our clients sending payments into the UK and European Union. Clear Junction already has strong relationships with a number of our existing clients, and its management team has many years of experience in cross-border payments and banking. We are excited to bring Clear Junction into our network, and we see this as merely the start of our relationship.”

Dima Kats, Founder and CEO at Clear Junction, commented: “At Clear Junction, we work tirelessly to identify new commercial opportunities to enable us to enhance our existing offering across the fiat and cryptocurrency domains. Blockchain technology and cryptocurrencies will definitely be at the core of the evolution of correspondent banking and we are happy to partner with Ripple to be a part of this process. This partnership is a great example of two institutions coming together to augment their respective products and services. We’re looking forward to working closely with the Ripple team and hope to explore more ways to grow our partnership in the future.”

Read this next

blockdag

Groundbreaking Innovations in BlockDAG’s Keynote 2 Drive Over 1120% Increase; Toncoin & Celestia Prices Rise

Explore BlockDAG’s Keynote 2, detailing the cutting-edge technical advancements that led to a significant presale boom. Discover how these innovations have driven BlockDAG’s success, and get the latest updates on Celestia and Toncoin prices.

blockdag

BlockDAG X1 Beta App Pioneers in Crypto Mining Amidst Ethereum vs Solana Rivalry and XRP Price Increase

Dive into the details of BlockDAG’s X1 beta app’s global tech presence in Shibuya, Las Vegas, and Piccadilly Circus and its pre-sale triumph during a spike in Ethereum, Solana, and XRP values.

blockdag

BlockDAG Hits $50.4M with Active Dev Release & Community Engagement; Binance Coin Price Drops and JasmyCoin Rallies

Explore how BlockDAG bolsters its reputation through a steady stream of Development releases. Get insights on Binance Coin price trends and the recent Jasmy Coin rally.

Crypto Insider

5 Upcoming Crypto for 10x Gains: How $1000 Can Become $10,000

Consider a situation where a $1000 investment may grow to a whopping $10,000. Astute Bitcoin investors have experienced this as a reality rather than a fantasy.

Retail FX

Weekly Roundup: eToro links up with Elon Musk, US crackdown on Russian FX

Let’s take a look back at top stories that dominated the financial markets in our Weekly Round coverage. This week’s digest takes a deep dive into the most recent events and trends within the Forex, Fintech, and cryptocurrency.

blockdag

Must-Watch Top 5 Crypto Picks for Q2 2024 Featuring BlockDAG, Toncoin, Solana and More

Dive into BlockDAG’s meteoric rise and explore other promising altcoins like Pepe, Toncoin, Solana, and Render for superior returns.

Retail FX

Clone of Admiral Markets draws FCA attention

The United Kingdom’s financial markets watchdog today unmasked another fraudulent entity, this time bringing to light a clone firm that has been posing as FCA-‎authorised brand, Admiral Markets UK Ltd.

Digital Assets

Gemini Earn users to recover $2.18 billion in crypto payouts

Cryptocurrency exchange Gemini has agreed to pay $50 million worth of digital assets to investors in its Gemini Earn program as part of a settlement with the New York Attorney General (NYAG), announced on Friday.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: British Pound (GBP) Weakness, US Inflation, Euro, USD June 14 ,2024

British Pound weakens due to lower inflation expectations, potential policy changes from Reform Party, and broader economic concerns.

<