During the SWELL event, which Ripple organises every year in Singapore to bring together all the players in the world of financial services, the company MoneyNetint received the Best Connector Award.
— MoneyNetint (@MoneyNetint) November 19, 2019
MoneyNetint’s business started locally as a cash exchange in 2004, but over the years it has expanded internationally becoming a global provider managing billions of dollars of transactions per year.
As the team pointed out, MoneyNetint is using RippleNet technology, to be precise RippleNet, in order to simplify and make international transfers faster and cheaper. The platform allows to directly interact with all types of businesses and manage all payments and fiat currencies.
As mentioned, MoneyNetint chose Ripple to implement its DLT solution in order to shorten transaction times, which has also allowed the company to increase customers and the number of transactions managed, as explained by CEO Yishay Trif of MoneyNetint:
“Adding Ripple’s blockchain solution to our robust payment platform allows us to deliver a superior product while enhancing our customer support. This allows for businesses to operate and flourish globally while having a proven platform for financial transactions. By breaking down geographic barriers, companies can confidently work with and purchase from whomever they choose, in any locality.”
This is just one of the partnerships Ripple established during 2019: for example, MoneyGram recently entered into a partnership with Ripple, while in Japan the SBI group decided to integrate Ripple’s services in Southeast Asia.
Ripple’s account manager, Luke Cutajar, explained:
“This partner has fully embraced the tech advantage of what it means to be connected to Ripplenet. During 2019 they have on boarded more than 10 partners and many finance institutions from all over the world offer their customers a frictionless and effective solution for EUR SEPA clearing. But 2019 has also seen the tech advantage of the network to expand their own offering, connecting to partners to access Southeast Asia and India routes. It’s a pleasure to work with everyone in this company and support them to scale their business through RippleNet”.
Moreover, in a recent interview with The Cryptonomist, Ripple continues to emphasise how decentralised their project is, despite owning most of the XRP tokens.