Ripple Labs Joins Cross-Border Payments Association

Yessi Bello Perez
Mar 5, 2015 at 11:14 UTC
Updated Mar 5, 2015 at 11:18 UTC
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San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has joined the International Payments Framework Association (IFPA).

The Association, whose members include the likes of ACH, NACHA and SWIFT, provides rule sets, best practices and guidance on how to improve cross-border payments.

Nilesh Dusane, director of business development at Ripple Labs, said that the company was “very excited” to join the network, adding:

“IPFA rules – when they are appropriately modified for Ripple – help us create a complete, real-time, cross border payment system.”

The news comes after Ripple Labs joined the NACHA Payments Innovation Alliance and the Center for Financial Services Innovation Network (CFSI) in June 2014 and February 2015 respectively.

Following the announcement, a spokesperson for Ripple said its NACHA Alliance membership offered the company another opportunity to further its mission of “working with everyone within the industry to help drive innovation around the movement of money”.

The CFSI is dedicated to improving financial health, placing an emphasis on reaching the undeserved.