Ripple-Earthport Partnership Offers Cross-Border Payment
BNP Paribas is Belgium’s largest bank and it recently announced that its subsidiary BNP Paribas Fortis is partnering with Earthport.
Ripple Labs and Earthport are offering a regulated financial institution with cross-border platform payments. Ripple announced the partnership in 2014 and since, Earthport has been integrated into Ripple’s protocol for existing payment networks. Ripple’s cross-border payment solution enables Earthport customers to benefit from lower liquidity management costs and they’re able to maintain higher regulatory standards as well.
As for BNP Paribas, its partnership with Earthport will enable the platform to access Earthport’s payment network, which is recognized for its lower cost and transparent international payment system.
Earhtport has a strong regulatory expertise, which is bound to strengthen BNP Paribas’ risk and compliance framework. BNP Paribas will also be able to facilitate services into new regions by fulfilling customers’ needs.
Earthport also claims to offer “peace of mind” to its customers. The platform assists customers with growth by providing them with cash management solutions and end-to-end foreign exchange. The platform’s CEO, Amanda Mesler, stated that the platform is very excited to begin the first stage of liv development with bNP Paribas and that customers and businesses are expecting the same convenience and speed in processing international payments. She added
“That’s why this collaboration is focused on evolving our network and setting new industry benchmarks on predictability and transparency for our clients and their customers.”
Damien Godderis, the head of BNP Paribas’ Payment and Receivables Cash Management stated that Earthport has been supporting BNP Paribas with its payment network and global outreach. Further, he mentioned that the partnership provides Paribas with access to both establish and emerging markets and
“We are committed to providing the best services and options to our customers.”