The Ripple ecosystem currently leads the “partnership race,” dominating the global cross-border payments landscape. While the company’s partnership drive has remained in the limelight for a long time, RippleNet partner Xendpay revealed some of its immediate benefits that highlights Ripple’s initial promises to its supporters. The information was shared through Xendpay’s official Twitter account, which read,
“We’re super excited to be part of #RippleNet. Our partnership with Ripple has helped us reduce our transfer processing time by 99%!”
The Xendpay case study was presented by Bhavin Vaghela, the company’s Head of Product Innovation, who highlighted Ripple’s role in helping Xendpay “continually open up new markets, keep our fees low and reduce processing times from days to an hour.” Commenting on the month-old partnership to support the remittance market, Vaghela said,
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“We needed a partner that could introduce us to local banks and have the infrastructure for quick implementation. That’s happened with Ripple.”
Reflecting on Xendpay’s own development, Vaghela said that Xendpay has successfully added 13 new currencies over the past year, while experiencing a 99% reduction in processing times. Although this development comes as a positive sign for the Ripple community, the partnership will not affect the price of XRP as Xendpay had previously stated,
“We do not have any plans for the foreseeable future to use XRP.”