Visa acquires Earthport, a Ripple partner, for $251 million


Visa will be buying the cross-border payment firm for 198 million pounds, states a report published by Morningstar.

Notably, Ripple had announced the partnership with Earthport in the year 2014.

Earthport integrated Ripple’s cross-border payments protocol into their existing payments network to enable its customers to benefit from lower liquidity management costs along with maintaining the regulatory standards.

The bigger picture

The acquisition is just the beginning. Most people predict that this announcement can lead to a partnership between Ripple and Visa as well.

A Ripple shareholder recently tweeted:

“This is huge news. Connecting the dots. Earthport is a Ripple partner. Visa is an Earthport partner. This would make Visa a Ripple partner by default.”

A Twitter user named Great Gaspy says:

#Visa acquiring Earthport is massive. Like we’ve said before, we don’t have an instant payment problem(Visa does  txn per second) we have a settlement and tracking issue. Now Visa has neither of those issues. #XRP”

Another twitterati named HillDWXRP says:

“This doesn’t make them partners, the partnership was between ripple and earthport, visa can easily end any partnership, and since ripple is a visa competitor i see visa ending it very soon”

This announcement was introduced after a tough financial year for Earthport in which it experienced low transaction volumes and several management issues, but this can be due to the bear market. However, several reports suggest that post the announcement, the market shares of Earthport has hiked significantly.

According to the officials of Earthport, this is an opportunity for shareholders to realize an immediate and attractive cash value in the firm. They also believe that Visa is a suitable and appropriate partner for their employees, partners, custom, rs, and other stakeholders.

Again, most people believe Ripple’s future is bright with this acquisition.


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Edith Muth

Edith Yue is CryptoMeNow's analyst. She loves to do intensive research on how blockchain will make an impact in our society. You can contact Edith at Edith@cryptomenow.com

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