This partnership was announced via a Ripple’s blog post and also shared on the official Twitter handle of Ripple.
Basically, Ria Money Transfer is a subsidiary of Euronet Worldwide having customers over 155 countries. Ria is one of the largest payment service provider in the world as it has $40 billion in money transfer volume per year.
Now after joining RippleNet’s network, Ria will have the facility to enable faster, lower-cost payments for millions. This will certainly improve the transparency and will provide a better user experience.
Juan Bianchi, the CEO of Euronet’s Money Transfer Segment said,
“At Ria we have developed the second largest Money Transfer network in the world along with a best-in-class compliance program all connected by our proprietary technology.”
“This partnership will enable Ripple to expand the reach and solutions for our partners and the overall banking ecosystem. Ria is one of the top money transfer players in the industry, with the second largest network in the world and is known for its world-class service. By joining RippleNet, Ria not only enhances our value chain for our partners but will continue to improve remittance times and costs for both their customer and enterprise clients,” added Marcus Treacher, SVP of Customer Success, Ripple.
RippleNet has added 13 more customers in the first quarter of this year. Euro Exim Bank and Olympia Trust Company have also joined RippleNet.