- Ripple and Thunes have expanded their partnership to integrate Ripple Payments into Thunes’s global network
- The collaboration aims to solve the high fees and long settlement times of traditional cross-border payments
- The move is a major step for financial inclusion, especially in underserved markets with limited banking
Ripple and Thunes are expanding their partnership in a major move to reshape global cross-border payments. The collaboration, which builds on a relationship started in 2020, will integrate Ripple’s blockchain-powered payment solutions with Thunes’s massive global network, signaling a growing demand for faster and more reliable financial services.
How Will the Expanded Partnership Work?
According to the press release, the partnership is designed to combine Thunes’s extensive network with Ripple’s blockchain infrastructure to improve the efficiency of global money transfers.
What is Thunes’s “Smart Superhighway”?
Thunes operates what it calls a “Smart Superhighway” for international money transfers, connecting financial institutions, fintechs, and businesses. By integrating Ripple Payments into its Direct Global Network, Thunes gains additional tools to improve real-time payout capabilities in local currencies.
This approach is particularly significant in markets where traditional banking access remains limited. Consequently, businesses and consumers will see improved access to fast and affordable payment options, regardless of geography.
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What does this mean for Ripple’s enterprise clients?
The integration allows Ripple’s enterprise clients to withdraw funds in more currencies and markets, significantly broadening their global footprint and payment options.
Move to Meet the Rising Demand for Digital Finance
This collaboration directly addresses the major pain points of the traditional financial system.
How does Ripple solve problems with traditional banking?
Traditional cross-border payments often involve high fees, long settlement times, and a lack of transparency. By leveraging Ripple’s blockchain solutions, Thunes can offer its clients greater clarity and much faster settlements.
Does the new partnership improve financial inclusion?
The partnership aims to fill a critical gap in underserved markets. By offering secure and transparent alternatives that bypass traditional banking barriers, the collaboration helps build financial inclusion for millions of people who still rely on outdated remittance channels.
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Source: https://coinedition.com/ripple-thunes-expand-cross-border-payments-partnership/
