Ripple News: Mercuryo’s Global Payment Network Adds Support For XRP

August 2, 2022 7:51 pm

Mercuryo is a well-known global payment network that operates as a fintech company that is based out of London.

The company had just revealed that it has added support for XRP which will now enable its large amount of existing customers to utilize XRP for all cross border transactions.

The popular payment provider shared multiple reasons why it decided to integrate XRP within its system such as the fact that the XRP protocol is already used by major banks to facilitate rapid and cheap transactions.

It also noted the fact that Ripple had first began as “RipplePay” back in 2004 which was before Bitcoin’s launch which shows Ripple’s deep expertise within the payments industry.

Perhaps the most impressive fact of using it for cross border payments is that settlement can be nearly instant while current financial systems will likely take multiple days.

TheCryptoBasic reports:

The popular payment provider also used the opportunity to highlight XRP’s importance in cross-border payments.

“@ripple has made waves in the cross-border payments industry powered by $XRP. The protocol is used by major banks to facilitate rapid, secure, + cheap transactions. Ripple initially began as “RipplePay” in 2004 – 5 years before Bitcoin’s launch,” Mercuryo noted.

It is noteworthy that XRP is not the only cryptocurrency that Mercuryo recently integrated into its platform.

As announced by Mercuryo, the fintech company also added support for Litecoin (LTC), Fantom (FTM), Circle’s stablecoin (USDC), and popular meme-based cryptocurrency Dogecoin (DOGE).

Mercuryo is also considered one of the prominent fintech companies that specifically use crypto for their cross-border transactions.

As a result, the firm has already become a major player in the space and has had existing partnerships with various crypto-related firms, including Binance, Bithumb, Bitfinex, Trust Wallet, etc.

With its wide existing network and reputation as a payment provider as well as the fact that Ripple is the leading player for international settlements, it seems that the new XRP support will truly help accelerate mainstream adoption.

The new support also indicates that fintech and blockchain firms around the world are continuing to partner and support XRP outside of the US.

U.today concludes:

In April, it became one of the first companies within the industry to incorporate open banking payments after inking a deal with open payments gateway Volt, thus offering higher transaction speed and stronger security.

Mercuryo has noted that Ripple, the company associated with the XRP token, has made waves with cross-border payments, adding that the protocol is used for facilitating fast and cheap payments.

Earlier this month, the platform added nine more fiat currencies (the Polish zloty, the Swedish krona, the Danish krone, the Czech koruna, the Swiss franc, the Australian dollar, the Canadian dollar, the Hong Kong dollar, and the Bulgarian lev).

In June, Mercuryo, which is based in London and Tallinn, announced that it would soon open a new office in the U.S., continuing its expansion in the country.

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