Earthport and Ripple Labs Collaborate to Offer Easy Cross-Border Payment Solution
FREMONT, CA: In order to deliver seamless and hassle-free real-time cross-border bank payments, Earth and Ripple Labs have come together to launch a collaborated solution. With this deal, Earthport’s solution will have the Ripple protocol alongside its payment network and platform. It will also share in the upside of Ripple as adoption of the protocol grows.
The collaborated solution will optimize a financial institution’s liquidity management and minimize the need to prefund a payment account while executing transactions overseas.
Ripple’s protocol allows for the secure transfer of funds across currency in real-time without the need for reserves. Earthport has global payments network, platform and compliance processes that ensure safe and efficient cross-border payments solution.
"We constantly evaluate new technologies to reduce costs and delays associated with global bank payments for our clients, but require these innovations to meet our high, exacting standards for compliance," said Hank Uberoi, CEO of Earthport. "Ripple is a new technology and, once integrated in our payments service could bring benefits in efficiency and speed to global transfers. Earthport will apply its existing compliance framework, rule sets and secure payments network to any Earthport clients transacting using the Ripple protocol."