Ripple reaches new partnership to enhance cross-border payments in GBP and EUR

Ripple has partnered with Clear Junction, a global payment solutions provider, to boost cross-border payments in GBP and EUR currencies.
On Wednesday, Ripple announced a strategic partnership with Clear Junction aimed at optimizing EUR and GBP payment capabilities for their customers. According to the report, this new alliance will change the way payments are processed across the UK and EU border, promising faster and more secure transactions.
Enhancing cross-border transactions
Through this collaboration, Clear Junction will allow Ripple’s customers to make payments in EUR and GBP currencies promptly and reliably. This move is expected to significantly improve transaction efficiency for businesses operating in these regions. Additionally, Ripple noted plans to integrate more currencies later this year.
Ripple’s regional director for Europe, Cassie Craddock, highlighted the synergies between the two companies, saying that Clear Junction’s ability to support Ripple’s use cases from the outset made it an ideal partner.
Additionally, Craddock noted that Clear Junction’s extensive experience in banking and cross-border payments complements Ripple’s efforts to provide enhanced payment solutions.
Strengthen operational security and compliance
As an FCA authorised electronic money institution, Clear Junction provides a strong operational framework that ensures funds are secure and in compliance with necessary payment industry standards.
According to the press release, the company has received ISO 27001 certification, underscoring its focus on the highest standards of data security.
Dima Kats, founder of Clear Junction, expressed enthusiasm for the collaboration. He noted that the alliance with Ripple enables Clear Junction to integrate cutting-edge blockchain technology into its services, further promoting the development of counterpart banking business. Kats said:
“I firmly believe that blockchain technology and cryptocurrencies will play a key role in reshaping the correspondent banking landscape. We are delighted to have formed a partnership with Ripple as we recognize the significant potential for innovation and growth within this space.”
Expanding global reach and capabilities
This cooperation will expand Ripple's influence in more than 55 countries, covering more than 90% of the global foreign exchange market. Ripple's infrastructure enables businesses to leverage blockchain technology for streamlined, cost-effective cross-border transactions without the need for extensive expertise in this area.
Founded in 2016, Clear Junction provides e-money solutions, multi-currency payment accounts, treasury management services and virtual IBANs to licensed financial institutions. The partnership with Ripple will allow both companies to enter new markets quickly and efficiently. Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not necessarily reflect the views of Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.