Chinese payments provider LianLian is joining Ripple’s payment network, RippleNet, to use its blockchain technology for faster cross-border payments, the companies announced today.
Upon joining the network, LianLian’s payment solution, LianLian Pay, will use Ripple’s settlement solution, XCurrent, to power transactions between China and the U.S., Ripple stated in a blog post.
LianLian CEO Arthur Zhu said in a statement:
With RippleNet, we will further enhance that experience and increase our market share by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support. We look forward to working with Ripple to power payment flows between China and RippleNet members in new markets.
Ripple’s network is currently comprised of over 100 financial institutions, according to the company.
To learn more about blockchain and cross-border payments, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to request an invitation.1 - Reader Likes This Post