Ripple and its products especially XRP are in the spotlight again as they get support from more and more important names in the industry.
Remitly is a global payments unicorn which transfers huge amounts on a yearly basis.
We’re talking about $6 billion a year and they do this by allowing customers to make person-to-person international money transfers from the US.
The great thing is that they seem to be seriously considering implementing Ripple’s cross-border payment solutions.
The company is huge and they serve more than a million customers each year and most of them are in regions such as India, Mexico, and the Philippines.
Praising Ripple’s tech
Ripple and XRP researcher Steven Diep revealed a clip of Remitly CEO in which he’s explaining that he’s still hesitant to use crypto such as Bitcoin.
He also says that he definitely remains interested in the blockchain payments solutions such as the ones provided by Ripple.
“Think of us like a mobile phone alternative to Western Union or MoneyGram. We’re sending over $6 billion a year. In terms of scale and size we’re close to 1,000 people worldwide. We’ve raised close to $200 million in equity and, most importantly, we’ve served over a million people around the globe, and our customers tend to be immigrants,” he said.
He continues and says that they are paying a lot of attention to Ripple as they’re seeing more and more financial institutions integrating their services to make things less expensive for customers.
Remitly is paying a lot of attention to Ripple to integrate blockchain technology to drive down cost for financial institutions like themselves, therefore making it less expensive for consumers.