Visa Ripple partners Earthport for 250 million dollars buys
Home News Visa buy Ripple partners Earthport for 250 million US dollars
Marcel Knobloch –
The adaptation of the Blockchain is felt in many sectors of the economy in the world. The advantages and potential of this new technology remain by large companies such as Visa will not go unnoticed. Little surprising, the step of Visa seems to be to buy the already-long-Partner of Ripple earth port.
According to the latest report from Reuters, Visa has paid a total sum of more than $ 250,000 for the British payment service provider, Earthport, to take over the company. The London-based company handles transactions all over the world for banks and larger companies. Earthport has been working since December 2014 with Ripple closely to make cross-border credit Transfers faster, cheaper and safer. After a long development phase, the earth port Distributed casual Hub was launched in the year 2016. In the same year, the first cross-border payment through the use of the Blockchain was made (freely translated):
[…] the first cross-border payment transaction, had received the Santander UK via Distributed Ledger. So that you could use as the first British Bank to the Distributed Ledger technology (DLT) for cross-border payments in the world can be realized.
Earth port that Ripple supports the Mission and Vission of the company and to enable “the access to so many countries, currencies, accounts and payment types as possible through a single API.” Visa International Service Association wants to expand this Aqusition, the business of cross-border payments. This portion makes up about 10% of total sales worldwide. Including transactions in which transactions in at least 2 countries worldwide are involved in the fall.
Earth port counts, among other things, the Bank of America and the Japan Post Bank to its customers. The offer of Visa is a revised proposal of Visa that has already been worn a month ago at the company. Earthport provides companies with a cost-effective Alternative to the traditional payment system and Services from a single source. as banks and money transfer companies usually act via multiple payment channels worldwide, to transfer Remittances quickly from one country to another.