Ripple has recently managed to bag two partnerships with two financial services companies. One of these collaborators is with the leading Israeli financial service provider GMT, the other to sign on a partnership with Ripple is the Turkish bank Akbank.
According to a blog post made by the Israeli company GMT, they are currently trying to establish themselves as leaders in the fintech industry, from their position as a major player for the Israeli financial service market. The blog states,
“GMT is joining companies like MoneyGram, AmericanExpress, CIBC, Earthport, AKBANK and many more, who are already authorized to use Ripple’s platform.”
The announcement elaborates on the usage of xRapid settlement platform shall be the node for this partnership between GMT and Ripple.
Local bank Akbank has also announced that they shall be utilizing Ripple for payment in British pounds directed from the UK branch of Spain’s largest bank, Santander, according to information provided by local media sources.
While the bank hasn’t specified whether the transaction would be done through the usage of xRapid or xCurrent, it would seem the first use of the settlement method is most likely to occur.
Tolga Ulutas, Manager for Akbank as commented on is satisfaction for “being the first bank to initiate the international money transfer process with blockchain technology.”
Ripple’s ongoing expansion into the eastern side of the globe seems to be increasing so far. With their new node being launched soon, it seems plenty of financial services want to jump in on the action and become the first to do so.
Do you think these two partnerships will have an impact in Ripple’s success?
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