Ripple Expands Presence In South America, Cracks First Partnership In Chile With Currency Bird

Fibo Quantum

Ripple has a special focus on emerging markets, especially in South America. It has taken major steps to expand its presence in South America which has just furthered with its partnership with Currency Bird, its first in Chile.

Ripple has emerged as one of the major blockchain-based payments processor in the world with over 200 partners, most of whom are banks and other financial institutions. Recently, its partner in Brazil, BeeTech Global has been doing wonders for emerging businesses in the region, by reducing processing times and bringing down fees.

Santiago based Currency Bird is another payment processor, who joined RippleNet, the blockchain’s DLT based payment processing service. It became the first Chilean processor to do so and joined major players like MoneyGram, American Express, Standard Chartered Bank, etc., which are already a part of the network.

In the official announcement on its website, Currency Bird said that partnership with RippleNet will open 50 new destinations for payments processing. It further added that it will bring “new currencies, better prices, and faster transfer speeds,” using Ripple’s technology. Teófilo de la Cerda, founder, and CEO of Currency Bird said,

Being part of this worldwide network supports the work we have been doing since 2015, as an enterprise supported by Corfo, to offer our more than 12 thousand clients simple, safe, transparent and low-cost international transfers.

The official announcement also revealed that the partnership was finalized earlier this year in March and it already functional as of date. The partnership allows Ripple to enhance further its grip in the region, where global payments are expected to rise exponentially in the coming years. RippleNet provides liquidity in cross-border transactions on demand, which helps companies like Currency Bird to process payments is ridiculously lower time, at super affordable prices.