InstaRem And BeeTech Partnership
The two firms were among a clutch of banks and payment processors in emerging markets to recently sign up to use Ripple's enterprise-ready ledger product xCurrent and xVia API to transmit and accept real-time payment flows across borders.
When asked about the tie-up, Prajt Nanu, the CEO of InstaReM said: “The connectivity that Ripple’s innovative blockchain network provides will allow us to offer our customers – including corporates and small businesses – quick, hassle-free payments into BeeTech’s markets.”
The agreement between InstaReM and BeeTech will enable customers of the Singapore-based operator to send real-time payments into South America. BeeTech users will benefit from instant payout services via xVia into the 60 markets across the world that InstaReM supports.
One Pay FX Demo Release
The company released a live demo of the OnePay FX app. The demo was released on their blog, and this video sums it up. Essentially, the video is of a transaction taking place, and processing via the settlement app. The app provides cross-border transactions at a face rate, performed on the RippleNet. This is big news, particularly for two reasons. First, the app uses xCurrent. Second, this release is part of the company’s plans to revolt against legacy banking systems.
Banco Santander, a Spanish banking group, has been testing Ripple-powered payments for nearly two years. The latest video illustrates the fruits of those labors while illustrating one of Ripple’s solutions to traditional banking.
Ripple’s Good Performance This Week
This week was one of the better performing weeks for Ripple. The above product releases and partnerships were not the only stories showing Ripple in a positive light. The company also announced the release of 1.0.0 Rippled. If you don’t know what this is, Rippled is the P2P network that the XRP Ledger works on. This news might be more exciting than the OnePay FX app, considering this version of Rippled has been in development for 6 years.
Perhaps not to most people’s surprise, Ripple was in the green last week gaining around 12% and currently trades at $0.643130.