Payment network Ripple announced Wednesday its collaboration with fintech firm Finastra.
Using Ripple’s blockchain-based platform, Finastra users can now connect with the 200 partners on RippleNet, a global payments network utilizing the XRP cryptocurrency.
RippleNet users also have access to Finastra’s banking partnerships, which settle millions in transactions per year, the company said in a statement.
“Finastra is an established fintech player and works with a majority of the world’s top banks," said Ripple’s Marcus Treacher, adding:
Finastra’s Riteesh Singh echoed Treacher, noting RippleNet's physical reach:
The integration follows the announcement of several Ripple initiatives in recent weeks. Ripple's Xpring launched a developer kit and other tools to encourage coders to build payment rails into any app. Xpring also announced the acquisition of an Icelandic firm and a firm that will move Ripple into the decentralized finance (DeFi) space.