To celebrate the start of another great new year Ripple announced that it had partnered with more than 200 financial institutions and banks which will eventually use Ripple’s services.
In the same announcement Ripple also announced that five [JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank] of these 200 partners had agreed to leverage the digital asset, XRP to source liquidity and facilitate real-time cross-border payments.
SendFriend, one among those announced five partners’ CEO David Lighton has confirmed that their xRapid services will go live in Q1 2019 at a Barclays’ Accelerator event. The tweet stated:
“We leveraged the blockchain to create an instant digital money transfer service, a full 65% cheaper than the industry’s average. SendFriend is the US’ first fully compliant international consumer payment solution built on the blockchain and we are going live in Q1.”
Furthermore, SendFriend tweeted:
“The existing correspondent banking system is slow, inefficient and costly. We are excited to partner with @Ripple to solve these problems—to offer our customers a cheaper and faster way to send money to the Philippines.”
The CEO also mentioned that Ripple had contributed $1 million to SendFriend to support marketing expenses which might have come from RippleNet’s accelerator program which usually supports early adopters of its technologies.
Garlinghouse stated that he expects “a dozen of ” banks that will go live and use xRapid in 2019.
“Nice find bro this for sure will make @WesternUnion @MoneyGram think twice. looks like you have new companies nipping at your ankles watch you don’t become a blockbuster to a Netflix .
Adopt now I would hmmmmm
“Wonder if @Ripple gave them $1Mil or $1mil worth of xrp.