- Novatti Group, which is based in Australia, will work alongside Ripple to deliver a new set of money transfer services in the major market of Southeast Asia.
- One of the key benefits for customers is expected to be the provision of alternative financing streams for business clients – which could help them make better use of the capital they have available.
- RippleNet is one of the world’s most popular blockchain finance platforms, and there are understood to be more than 300 financial companies using it at present.
An Australian company specialising in international money transfers has revealed a new collaboration with the blockchain payments company Ripple.
Novatti Group said that it will work alongside Ripple to boost its provision in the crucial remittance market of Southeast Asia.
Clients of Novatti will soon have the chance to enjoy global payments using the RippleNet platform, which is a blockchain-based service designed to speed up the payments process.
Customers will now be able to benefit from real-time cash transfers between the Asian market and Australia.
The new arrangement will also help Ripple customers to open up new streams of financing.
In a press statement, a senior figure at Novatti said that the company was “incredibly excited” about the new arrangement.
The firm’s managing director, Peter Cook, emphasised the fact that Ripple is a disruptor.
“Novatti is incredibly excited to partner with Ripple, who is rapidly disrupting the global payments industry,” he said.
He went on to outline the ways that Novatti – and its customers – would benefit from the move.
“This partnership will further increase Novatti’s competitiveness and provide our customers with access to new, innovative payment solutions,” he explained.
He picked out the “alternative financing solutions” aspect of the new Ripple-powered provision as a specific benefit
“In particular, we look forward to working with Ripple to provide our customers with access to their exciting alternative financing solutions, so that our customers can free-up capital to focus on growing their businesses,” he said.
According to press reports, there are now over 300 financial firms across the globe making the most of the RippleNet platform.
Ripple also operates its own cryptocurrency, which is known as ‘XRP’.
XRP’s value has soared over the course of 2020.
Novatti, meanwhile, has also had a strong recent period.
In addition to this latest partnership with Ripple, the firm has also announced pairings with other major financial services names.
These include Alipay as well as other household names such as Google Pay and Visa.
Smaller firms such as Decta and Marqeta have also joined in.
It is believed that Novatti has an overall strategic goal of expanding further and further into the Southeast Asia market and providing further services to customers operating there.
The connection with Ripple, it said, would speed up that process – and ultimately provide higher transaction volumes.
To get even more information about what’s happening in the online money transfer space, just read a few of our reviews.