Xendpay – the London-based money transfer service provider – has become one member of the Ripple’s worldwide network RippleNet, to facilitate global trading activities. 

As revealed via a Ripple press release on August 20, RippleNet will be giving Xendpay the ability to offer its money transfer services in many currencies. Specifically, Xendpay will be utilizing the wide array of banks in the RippleNet, along with numerous financial institutions, to transfer money through different types of crypto and fiat currencies – including Ripple’s XRP.

As revealed via the press release, Xendpay previously ran into some troubles regarding conducting transfers beyond the US dollars in markets outside of USA. Xendpay would have to form collaborations with banks in the region, along with handling troublesome application programming interfaces, in order to expand its business. 

“Previously we had to create a whole business case for each partner […] RippleNet reduces that complication and friction. There’s a built-in trust factor, which allows us to get to market quicker.” Bhavin Vaghela, Xendpay’s head of product innovation, remarked. “When we sent Thai Baht, it took 3 to 4 days for the payment to be processed […] Thanks to RippleNet, a customer in Germany can log onto our platform at 3AM on a Sunday morning and the money will be in their beneficiary’s bank account in Thailand within an hour. More than 90 percent of our recent payments to Thailand over RippleNet have been delivered within 10 minutes.” Vaghela added.