Remittance firm Xendpay has announced a partnership with Ripple to enter new markets, including the Philippines, Bangladesh, Malaysia, Vietnam, Indonesia, and Thailand.
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RippleNet, the company’s global settlements platform, accepts currencies previously unavailable to Xendpay.
Before the partnership, smaller currencies, including the Bangladeshi taka or the Malaysian ringgit, required Xendpay to form local banking partnerships.
“Previously we had to create a whole business case for each partner,” said Xendpay head of product innovation Bhavin Vaghela.
“RippleNet reduces that complication and friction.”
Xendpay is popular in countries with established and growing migrant communities, including the U.K. and Europe, as well as Canada, South Africa and India.
Other customers include students needing to pay tuition fees and receive funds to cover living costs, as well as small online businesses who buy and sell goods from other countries.
In June, Ripple was adding “an average of two to three new financial institutions to RippleNet each week.”
RippleNet surpassed 200 clients globally earlier this year.