On Tuesday (October 6), Californian FinTech firm Ripple announced that French firm Lemonway had joined RippleNet to “unlock faster euro-to-euro payments.”
Paris-headquartered Lemonway was founded in 2007. It is “a pan-European Payment Institution that offers a solution dedicated to marketplaces, crowdfunding platforms, as well as to large groups requiring payment and fundraising services on behalf of third parties in a secure environment and regulated (KYC, anti-fraud).”
Lemonway “serves around 1,400 marketplaces in Europe, including 200 crowdfunding sites.” In December 2012, it received payment institution authorization and European passport from Prudential Supervision and Resolution Authority (Autorité de Contrôle Prudentiel et de Résolution – ACPR), which is “an independent administrative authority, which monitors the activities of banks and insurance companies in France.”
According to Ripple’s blog post, via RippleNet, Lemonway is “now connected to Nium to transform its international payments and significantly decrease payout times for its customers.” (Global remittance firm Nium was formerly known as InstaReM.)
Lemon Way’s Chief Commercial and Marketing Officer, Martin-Pierre Gaultier, had this to say:
“As a company that embraces innovation, we are always looking for new business models and technological capabilities that can enable us to offer better services to our merchants,. Our partnership with Ripple is a testament to this, and we’re excited to be able to offer faster and more cost-effective payouts to support the evolving needs of our customers and merchants.”
Here is Ripple explaining how joining RippleNet helps Lemonway:
“By joining RippleNet and their connection to Nium’s global money transfer network, Lemonway can improve its euro-to-euro payment corridors—and can expand to other currencies and corridors in the future. Through this partnership and RippleNet’s access to hundreds of global financial institutions, Lemonway ensures transparent, reliable and real-time payments, at a lower cost—a key competitive differentiator that helps Lemonway attract new customers.”
And Rohit Bammi, Global Head of Institutional Business, Nium, stated:
“We are happy to announce the enhancement of payment routes for Lemonway users. Nium looks to create a fintech infrastructure that can help banks and financial institutions launch and scale innovative digital financial services without the complexity, time and cost previously required to do so, and this partnership with Lemonway through RippleNet to enhance their payments capabilities is a testament of that.”
On Wednesday (October 5), Ripple announced on its Insights blog that it had rebranded its development/incubator arm Xpring to RippleX:
“The key to achieving complete industry transformation is removing the pain and friction that comes with integrating blockchain technology into businesses and applications. By providing resources and tools, RippleX—formerly Xpring—along with the broader XRP community, are moving the needle to build trust, utility and liquidity in the digital asset XRP.”
Monica Long, senior vice president of marketing at Ripple, is the general manager of RippleX, where she “leads the team working with the growing community of businesses and developers building real and sustainable solutions with XRP and the XRP Ledger.”
Ripple also talked about Ripple Impact:
“Ripple Impact, formerly called Ripple for Good, partners with mission-driven organizations to create greater economic fairness and opportunity for all—through research, education and philanthropy. In concert with the University Blockchain Research Initiative (UBRI), Ripple Impact is a natural extension of Ripple’s products and services. Ripple’s global payment solutions and initiatives are helping transform how vulnerable populations, remitters and small businesses worldwide send and receive money across borders.”
Featured Image by “qimono” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
