Ripple is trying to be the world leader in the field of payments with blockchain. They have now taken an important step on the journey of transforming the financial world into more efficient blockchain-assisted systems.
Banco Rendimento do Brasil will now become the first bank to use Ripple's blockchain technology entirely in the cloud. Other financial services companies like Unleavened, MoneyGram, Pontual, Viamericas have already been running on RippleNet Cloud, but the addition of a bank further legitimizes the use of blockchain and especially Ripple.
According to Luiz Antonio Sacco, Managing Director of Ripple in Latin America, this new agreement is a sign of the progress that Ripple is making in the financial sector.
“A year ago we announced plans for the first time to grow the RippleNet ecosystem in Brazil and with the migration of Banco Rendimento to the RippleNet Cloud, we are excited to see our footprint in the region continue to grow. Brazil continues to lead fintech innovation and is well positioned to forge a path for the rest of Latin America to follow. ”
Ripple expects Banco Rendimento's measure to open the eyes of financial institutions around the world. The idea is that customers receive faster and more efficient services. Banco Rendimento should have an immediate advantage over its competitors, says bank FX superintendent Jacques Zylbergeld.
“The migration of our payment infrastructure to RippleNet Cloud allows us to offer our clients a first-class experience. Customers can now enjoy more transparency and easier navigation for both sending payments and trading. RippleNet also enables us to access global partners, offering a standardized solution and ensuring that integration and onboarding processes are seamless. ”
Banco Rendimento is one of the most active banks in Brazil in the foreign market, so it is natural that they are interested in a system that facilitates cross-border transactions. According to Ripple, 81% of new RippleNet customers opt for cloud deployment.
By using cloud-based RippleNet, growing companies can more easily connect with clients and other institutions around the world. The advantages of the system have been seen immediately according to Fernando Fayzano, CEO of Usend.
“Connecting with RippleNet Cloud has opened the door for us to work with a myriad of financial institutions worldwide. We are pleased to quickly identify and integrate with other RippleNet partners to expand our services. "
He explained that RippleNet It even attracts other entities to want to do business with them.
“We also enjoy the many other partners who have tried to connect with us through RippleNet to take advantage of our world-class international payment products. We look forward to a productive long-term relationship with Ripple as we partner to modernize cross-border payments. ”
As Ripple and other cryptocurrency companies continue to establish new relationships, the blockchain industry will take further root in the changing financial world.