New firms sign up to RippleNet

Ripple has signed up more new payments transfer firms to it’s distributed ledger payments network, RippleNet.

Ripple announced yesterday that two international money transfer companies have just joined the RippleNet decentralized global network.

Sao Paulo, Brazil-based BeeTech, and Singapore-based InstaReM have partnered with the fintech firm, allowing customers to benefit from Ripple’s product.

RippleNet is designed to offer speed, transparency and lower costs when moving funds.

Blockchain-based payments between Latin America and other countries currently served by InstaReM will be facilitated under the new collaboration.

The press release states that a number of nations including markets in Southeast Asia and Europe will also benefit from the deal.

The CEO and founder of BeeTech, Fernando Pavani said in a statement:

“This partnership on RippleNet provides our customers a one-stop shop experience, including the ability to send payments and access new suppliers across more than 60 markets through xVia – a simple API connection.”

Kuwait Finance House, also recently announced that they have also signed up for RippleNet.

Kuwait Finance House, also recently announced that they have also signed up for RippleNet.

In the May 26 announcement, financial institution said it will use the platform for cross-border payments.

It also boasts that it is the first bank in Kuwait to join Ripple’s Blockchain-powered network.

At least six banks and payments providers have partnered with Ripple to use their various payments tools in the last month alone.

One of the more notable firm’s to join Ripple’s ever-expanding partner network is South Korean exchange and remittance service Coinone.