A leading payment operator China LianLian International joined the network RippleNet company will use the Ripple xCurrent solutions for handling international payments between China, USA and Europe.
LianLian join the Ripple network, consisting of more than 100 financial institutions to provide their clients with a fast, cheap and convenient international payment solution, according to the website of the company.
LianLian annually processes billions of payments between merchants and consumers, including large online retailers such as Amazon, Ali Express and eBay, making the company one of the largest payment operators in China.
«From the RippleNet we will continue to expand this experience to increase market share by offering customers instant blockchain payments in 19 currencies, which are now supported», – said CEO of LianLian Arthur Tszyu.
xCurrent is an enterprise software solution company Ripple, which allows banks to instantly establish interoperable payments with end-to-end tracking. xCurrent dramatically increase efficiency, contributing to the increase in the number of transactions between merchants and consumers in China and other markets.
It is noted that the partnership with the LianLian will open doors to the Chinese market and for other participants RippleNet. Financial institutions from Japan, South Korea, Thailand and India can perform a fast and less costly transaction in and out of China.
«The volume of international payments related to the e-Commerce market in China reached in 2017 at $1.07 trillion. We have a huge opportunity to make these payments faster and more economical,» – said the Director of the division of partnership Ripple Amy between Yoshikawa.