Brazil’s largest bank latest to join Ripple for payments

Ripple announced today that Itaú Unibanco, Brazil’s largest private sector bank and Latin America’s biggest bank by market cap is the latest institution to join RippleNet for real-time global payments powered by the Ripple protocol. Further, IndusInd, a leading private sector bank in India; and InstaReM, a major remittance provider based in Singapore, will use Ripple’s xCurrent to provide faster cross-border payments to other financial institutions around the world.

It was also confirmed that two fast-growing global remittance providers, Beetech in Brazil and Zip Remit in Canada, will both use xVia to plug into RippleNet to send global payments for their customers.

Both remittance companies will look to establish a connection into China, an opportunity that is now possible thanks to the recent addition of LianLian International to RippleNetearlier this month.

Prajit Nanu, co-founder, and CEO of InstaReM commented on joining RippleNet:

“We are pleased to partner with Ripple. Now, RippleNet members will be able to process a large number of payouts in Southeast Asian countries through InstaReM’s secure rails.” […]

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