TransferGo international payment platforms Ripple’s partner and they just announced that they started exploring the benefits of Ripple’s xRapid, the product that is powered by the digital asset XRP.
On Twitter, TransferGo CEO Daumantas Dvilinkskass aid that the company is currently testing the payment solution for cross-border transfers.
TransferGo is testing xRapid
Back in September, he announced that TransferGo was launching a remittance corridor from Europe to India that will be using Ripple’s tech for more cost-effective and instant transactions.
The company didn’t say back then which one of Ripple’s products for cross-border transactions they will be using.
“We’re delighted to be one of the first companies in the market to offer our customers real-time money transfers,” he said.
Hi @daumis2475
I am currently updating the infographic „Companies using / testing xRapid (Ripple)": https://t.co/yPQLMcM3VW
Could you share if @TransferGo plans to pilot xRapid in the near future?
Thank you! pic.twitter.com/x3EKhU9NV1— XRP_Cro (@stedas) November 10, 2018
Dvilinkskas continued and explained that “By using Ripple’s revolutionary blockchain technology, we’re able to establish real-time communication between us and our banking partners in India, allowing TransferGo customers to send money to family and friends or make international payments immediately.”
In order to showcase the massive potential of Ripple’s tech, TransferGo launches free money transfers between Europe and India which will be powered by Ripple.
TransferGo shares the same mission as Ripple
Their mission is completely aligned with Ripple’s main focus of changing the ways in which financial institutions do business and move money globally.
Dvilinkskas said that in modern society, people should be able to transfer money to their family and friends internationally for free, just in the same way that they can do this domestically.
He highlighted that their product innovation is driven by the highest issues that customers usually have to deal with, in this case, fees for transactions.
“We believe in stripping down the complicated fee structures that can be difficult to understand – we want our customers to have complete confidence that we are providing a service with no transaction fee and no mark up on exchange rates, it’s just free,” he concluded.