Ripple Unveils Ripple Payments With Game-Changing Upgrades

Ripple Payments announces key upgrades to facilitate global cross-border transactions.
Licensing milestones and XRP Ledger integration expand Ripple’s payment solutions.
RocketFuel becomes the first user, enhancing global payouts with Ripple Payments.

Ripple Labs causes another stir in the crypto, finance, and Web3 realms. In its latest official announcement it unveils Ripple Payments and the Ripple and crypto community are already hyping the news.

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In an era where traditional payment systems often fall short of modern business requirements, Ripple Labs is pioneering advancements with its Ripple Payments solution. With over 80% of global financial leaders planning to integrate digital assets into their operations within the next three years, Ripple’s vision of streamlining cross-border payments using blockchain technology has never been more relevant.

At the annual Swell conference, Ripple announced a series of updates showcasing how Ripple Payments can cater to diverse business payment needs across regions and currencies, 24/7/365. These announcements mark a significant step toward realizing Ripple’s mission of moving value as seamlessly as information does today.

One key development is Ripple’s attainment of money transmitter licenses in various U.S. jurisdictions and approval from the Monetary Authority of Singapore, granting Ripple Payments the ability to operate within these areas. This regulatory milestone empowers Ripple Payments to offer its products and services in these regions.

Another remarkable feature is the single onboarding process, granting customers access to nearly 100% of global payout coverage spanning over 70 payout markets through Ripple’s international payments network. An integration with the XRP Ledger’s decentralized exchange enhances global liquidity options, simplifying customer onboarding into new markets and boosting product performance.

Ripple Payments now provides customers with expanded liquidity options that can be accessed on demand, ensuring flexibility and availability every day of the year. The first company to embrace this upgraded solution is RocketFuel, a payment solutions provider that facilitates payments in both cryptocurrency and fiat currencies.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.