Saturday, October 23, 2021
Home Crypto News Market Increasing Use OF RippleNet As Ripple Partnered with Australia Leading Payment Company...

Increasing Use OF RippleNet As Ripple Partnered with Australia Leading Payment Company Novatti For Cross Border Payments

- Advertisement -

Novatti, Australia major payment company announced use of RippleNet.

Novatti announced that they will connect RippleNet with Iremit, a payment giant in the Philippines, enabling fast, low-cost international remittances from Australia to Southeast Asia, mainly in the Philippines.

The company said the money transfer channels between the Philippines and Australia lead to thousands of Dollars transactions costs per month. Avoiding these high costs, fast and smooth cross border payments is the main objective of Ripple and Novatti partnership.

Novatti announced that it will continue to expand its financial service business in Southeast Asia.

Managing Director of Novatti, Peter Cook, said:

“We are delighted to see this partnership delivering for both
Novatti and Ripple in such a short period of time. The partnership with Ripple not only provides Novatti’s customers with access to new, innovative payment solutions, it also highlights how Novatti’s partnerships translate into revenue.”

He said Further:

“Forming our partnership with Ripple was part of Novatti’s broader strategy to develop a banking and payments ecosystem that enables our existing platforms to scale quickly. In addition to Ripple, Novatti’s ecosystem now includes partnerships with world-leading PAYMENT and fintech companies including Visa, Apple Pay, Alipay, UnionPay International, Google Pay, Samsung Pay, Marqeta, and Decta.”

Novatti has filed an application with the Australian Patent Office for a secure, regulatory compliant, multi-cryptocurrency payment gateway. Novatti did not provide specific details, but Cook described it as a system that allows merchants to receive payments in fiat currency through digital wallets, and cryptocurrency exchanges.

Ripple Focus on Southeast Asia

In 2021, Ripple is strengthening its RippleNet base in Southeast Asia. With a view of business expansion in Southeast Asia, Ripple appointed Mr. Brooks Entwistle as as managing director with work experience in Goldman Sachs.

Read More: Ripple Attracts Former Uber and Goldman Sachs Top Level Executive

Merchant token ico

At the end of March, Ripple announced that it acquired 40% stake in Tranglo, a payment settlement company that provides an international remittance network mainly in Southeast Asia.

Read: Ripple Acquire Malaysia-based Tranglo To Expand RippleNet to South East Asia

Ripple also reported in its 2020 Q4 report that RippleNet’s trading volume in Southeast Asia was 10 times the previous year, and that the market was growing rapidly.

- Advertisement -
Mark Brennan
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

Tortola, British Virgin Islands, 22nd October, 2021, Transient Network, a Smart Contract Global Marketplace, is thrilled to announce that it has raised $1.2 million...

Binance Smart Chain Is Bringing Fee-Burning Mechanism Like Ethereum

The Binance Smart Chain (BSC) has published a proposal to improve the BEP-95 ecosystem, This new mechanism will be similar to the Ethereum chain...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.