Several platforms are trying out different cryptocurrencies as a mode of payment and transactions. One of the most popular crypto tokens used for payments is Ripple (XRP). Ripple specializes in facilitating crypto payments and therefore, it is being widely adopted by the business sector. In a recent development, one of the leading payments platforms Modulr has announced a partnership with Ripple to run seamless payments in the UK and Europe.
Ripple leads the race for enterprise blockchain and crypto solutions, which makes it an automatic choice for organizations. However, benefitting from the partnership, Trust Payments has become the first customer to go live and offer payments for consumers. Trust Payments is a renowned and credible global unified payments group.
Ripple and Modulr now offer a much-needed solution to businesses
The two FinTech leaders have joined hands to make real-time international payments easier for businesses, like Trust Payments. Ripple’s financial technology, RippleNet, along with Modulr’s technology will offer global businesses to have an alternative to traditional banking payments. Global businesses can now cover the UK and Europe to provide more reliable, fast, effective, and cheaper transaction and payment systems.
Modulr has also prioritized to become a seamless payments-as-a-service solution in the European and UK region. It also has access to critical payment infrastructure in the UK which includes Faster Payments. Moreover, SWIFT and SEPA also offer such solutions in Europe. Modulr has expertise in the European payment infrastructure which makes it a perfect partner for Ripple. Modulr is also linked with the Bank of England which allows it to settle payments at the Central Bank.
In addition to this, Ripple and Modulr are planning to extend their partnership and offer real-time, cost-effective, and reliable payments to other regions. These include the Asia Pacific, Middle East, North America, and Latin America.
Ripple is also leading the race in crypto enterprise solutions. There were a record number of transactions on RippleNet in 2021. The transactions doubled from the year 2020. The payment volume run rate crossed $10 billion for the platforms. RippleNet enables businesses to improve their performance and scale by leveraging blockchain technology. It also offers premium customer services and experience by enabling liquidating management solutions and real-time payments.
On the other hand, Modulr is regulated by the FCA and thus, it is a reliable platform for users to open their GBP accounts. The platform provides reliability and security for its users. Its 24/7 coverage facilitates users and consumers.
