Ripple, the enterprise blockchain and crypto solutions provider, announced a partnership with Clear Junction, the global enabler of cross-border payments solutions for regulated institutions.
The partnership will see Clear Junction facilitating “instant and secure GBP and EUR-denominated payout coverage for Ripple’s payments customers.”
A host of new currencies are scheduled to be switched on for Ripple customers later this year.
Cassie Craddock, Managing Director, Europe at Ripple said:
“Clear Junction is a great fit for Ripple. From the word go, it was able to support all of our use cases, including providing GBP and EUR payout coverage for our clients sending payments into the UK and European Union. Clear Junction already has strong relationships with a number of our existing clients, and its management team has many years of experience in cross-border payments and banking. We are excited to bring Clear Junction into our network, and we see this as merely the start of our relationship.”
As an FCA-authorised e-money institution in the UK, Clear Junction’s operational strengths give its partners the reassurance “that their funds are secure and protected by necessary payment industry and data security safeguards.”
Clear Junction gained ISO 27001 certification, the highest global data security standard “that businesses can achieve, as further evidence to the operational security principles it is committed to.”
Dima Kats, Founder and CEO at Clear Junction said:
“At Clear Junction, we work tirelessly to identify new commercial opportunities to enable us to enhance our existing offering across the fiat and cryptocurrency domains. Blockchain technology and cryptocurrencies will definitely be at the core of the evolution of correspondent banking and we are happy to partner with Ripple to be a part of this process. This partnership is a great example of two institutions coming together to augment their respective products and services. We’re looking forward to working closely with the Ripple team and hope to explore more ways to grow our partnership in the future.”
Ripple Payments provides the enterprise-grade infrastructure “required for businesses to leverage blockchain easily for faster, cheaper, more efficient cross-border payments without needing to be an expert. It delivers a superior end-to-end customer experience, simplified network partnering, liquidity management solutions, lines of credit, and state-of-the-art infrastructure to enable real-time payments.”
Today, Ripple serves hundreds of customers in “over 55 countries and on six continents, with payout capabilities in over 80 markets representing more than 90% of the global FX market.”
Established in 2016, Clear Junction services “enable quick and safe access to multi-currency payment accounts, e-money accounts, virtual IBANs and treasury services for regulated financial institutions.”
By working with Clear Junction, clients can shorten “the time to market they typically face when establishing banking relationships, access new markets, and tap into game-changing technologies and expertise.”
