Ripple adds another partner to its bucket; offers same-day transfers out of Brazil

In a recent Twitter post, Ripple Labs announced their partnership with BeeTech, a Brazilian financial service. The company is born out of ideas that connect financial technology and innovation to transparency. The announcement read:

“We’re thrilled to partner with BeeTech. Ripple supports them with payments infrastructure that enables them to rollout new products, offering same-day transfers out of Brazil.”

BeeTech’s primary objective is to simplify and automate processes to provide a secure, personified and unique experience to its customers. Moreover, through its products, the company wants to offer its customers financial solutions to all processes involved in overseas transactions. The partnership gave a window of opportunity to eliminate the friction of cross-border payments between Brazil and Latin America.

The SVP of Customer Success at Ripple, Marcus Treacher, said after the announcement:

“BeeTech is a great partner & Ripple customer. Privileged to be working with them & building the #InternetofValue“

A Twitter handle by name xrpbrazil tweeted:

“BeeTech is huge. First platform totally online for cross-border payments in Brazil!!”

Recently Ripple has been seeing rapid expansion. Many companies have been flocking in, to partner with Ripple. Another recent partnership came to light featuring Ripple and TransferGo. This announcement, made on 5th September, allows cross-border payments between India and Europe with the help of Ripple’s payment system.

In one of its tweet, Platio an all in one smart banking platform headquartered in London stated that they have a vendor agreement with Ripple. The company further revealed that it will be integrating with Ripple’s xVia feature to transmit payments.

Sri Lanka’s notable commercial bank, Cargills Bank Limited, also recently partnered with Ripple Labs Inc.  The partnership enabled cross-border inward remittances to Sri Lanka using RippleNet. The COO of Cargills Bank, Rohan Muttiah, said:

“We use technology to make Banking and payments simple, convenient, and accessible. Joining RippleNet allows Remittance Agents and Banks to leapfrog sources of friction and complexity in Inward Remittances while offering beneficiaries’ unparalleled access to their funds through Cargills Food City supermarkets.