Bexs Pay’s Partnership Expands Ripple’s Remittance Services To Over 54 Million Users

June 5, 2022 2:36 pm Comments

Bexs Pay is a Ripple user that just announced a new partnership that would expand Ripple’s remittance services to over 54 million new users in Latin America.

Through this new partnership, Bexs Pay will be responsible for all transactions made through NuPay which means getting access to NuPay’s entire 54 million customer base.

Bexs Pay had first utilized RippleNet back in 2017 in order to be able to facilitate cross border payments with other banks located across North America, Europe, and Asia.

Ripple’s blockchain technology was what made it possible and many other companies besides Bexs Pay are now joining RippleNet to do the same. reports:

Brazil-based Bexs Banco, which processes cross-border e-commerce payments for millions of customers, joined RippleNet in 2017 to connect with member banks in North America, Europe and Asia.

In May, Nubank, Brazil’s largest digital bank, announced it had added the option for customers to buy and sell Bitcoin (BTC) and Ether (ETH) on its platform, with the intention of adding more cryptocurrencies in the near future.

Likewise, in May, Lithuanian online money transfer provider FINCI announced its partnership with Ripple for cross-border payments with RippleNet’s On-Demand Liquidity.

ODL utilizes XRP to enable cross-border payments at a fraction of the cost and at a reportedly faster rate than traditional payment rails.

These new partnerships continue to provide data that prove the ongoing international expansion of RippleNet despite the ongoing SEC lawsuit within the United States.

Additionally, the XRP ledger was first launched back in 2012 and this year marks the 10 year milestone for XRP which has been used to facilitate all of the cross border transactions on RippleNet.

The improvement of Ripple’s On-demand liquidity service has also skyrocket among clients this past year which will utilize XRP to facilitate transactions at a fraction of the value and with much greater speeds.

The next essential date for the XRP lawsuit with the SEC is reported to be June 7th to discuss the SEC’s attempt to use attorney-client privilege to protect internal Hinman documents.

Recent blockchain data also is indicating increased whale activity.

TheCoinRepublic reports:

Whale Alert cryptocurrency huntsman has shared that in the past twenty four hours, quite 650 million XRP are shifted by many crypto exchanges and anonymous wallets. the most important transactions carried over one hundred thirty million of XRP tokens.

Among the senders was Ripple fintech behemoth.

Per several recent tweets announced by Whale Alert, a complete of 650,200,000 XRP has been touched by numerous senders. The same quantity of crypto has been sent in seven transactions that’s identical to $251,293,057.

The most important transfers touched astounding quantities from one hundred thirty million to 210 million XRP.

Ripple crypto large was additionally noticed among the senders – a 210,669,140 was sent from a notecase that was originated by Ripple – rLdEhXxKJUXwAe9jHsisihZn96eTttMwwc. This mammoth amount of XRP value $83,507,590 was moved to a different wallet that belongs to Ripple Labs.

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