Ripple Blockchain Network Adds China Payments Provider

NEWS
Wolfie Zhao
Feb 7, 2018 at 14:00 UTC  |  Updated  Feb 8, 2018 at 06:03 UTC

Chinese payment provider LianLian International is joining RippleNet, the payment network that uses Ripple's blockchain technology to facilitate cross-border transactions.

Announced on Feb. 7, the news will see the Hong Kong-based LianLian International adopting Ripple's xCurrent solution in an effort to bring same-day, cross-border transactions onto a blockchain for its existing customers. The product differs from Ripple's xRapid solution, which, unlike xCurrent, uses the company's custom cryptocurrency XRP.

Arthur Zhu, CEO of LianLian International, said in a statement:

"With RippleNet, we will further enhance that experience by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support."

According to Ripple, the partnership with LianLian will enable existing RippleNet members to connect with the Chinese market.

With the news, LianLian becomes the latest member of RippleNet, which according to a previous CoinDesk report, now has over 100 customers using its xCurrent solution.

Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Online payment image via Shutterstock

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