New partnership uses xRapid to send cross border payments between Brazil and Japan

11 Nov, 2018
by David Borman
News
New partnership uses xRapid to send cross border payments between Brazil and Japan

The Daily Hodl recently reported that a new partnership has formed between Brazilian and Japanese banks which will make use of Ripple's xRapid protocol in order to allow for fast, cheap cross border payments between the two nations.

The banks involved are Banco MUFG Brasil S.A., which is a subsidiary of Japan-based MUFG Bank LTD, and Banco Bradesco S.A, a Brazilian banking company. The announcement was first made on Ripple's twitter:

This comes as Ripple is pushing hard to make new partners worldwide. Just recently Chepicap reported that Ripplenet has seen a growing list of banks joining up for its services. Also just last month MoneyMatch completed the first Malaysian cross-border payment using Ripplenet.

It looks like Ripple is one step closer to its goal of using crypto to link the various banking systems globally. Will this prove good for crypto or just another way big money takes over new technology? Stay right here with Chepicap for all updates!

Read more: RippleNet adds Amore Finance to its roster of banks

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Read more about: Ripple (XRP)

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