TransferGo, an international payment platform and one of Ripple’s partners has confirmed that they are exploring the use of Ripple’s powered xRapid.
The confirmation was made by Daumantas Dvilinskas, the CEO of the company a while back.
The CEO himself confirmed in a tweet that they are looking to use the product.
Yes, we are looking at xRapid.
— Daumantas Dvilinskas (@daumis2475) November 11, 2018
So far the company says that it has been experiencing a 100 percent year over year growth. Already it has over half a billion users around the world and its adding 1,000 new customers every day.
In October TransferGo became the first company to offer completely free international money transfers. Now it looks set to dominate the migrant remittance market in Europe.
In order to continue the rapid growth, they will be leveraging xRapid to ensure that their customers receive instant payments.
The firm’s mission is aligned with Ripple, and together both are trying to change how financial institutions conduct their business and move money.
In today’s global society, customers should be able to transfer money to friends and family internationally at no cost, in the same way, they can domestically. Our product innovation is driven by the highest pain points for our customers, which in this case was the fees currently charged by incumbent [and challenger] players in the market.