What links xRapid, the UK’s 2nd biggest bank & MasterCard? That’s right, a brand new international payments and remittance company run by ex MoneyGram & World Bank Techies!
xRapid Powering Global Payments Start-up!
It’s always great to hear of new companies using the xRapid network. It is even more exciting to hear when it involves some of the worlds biggest financial institutions.
Banking giants Barclays and payments processor Mastercard. Have jointly invested in a brand new international payments remittance company.
This startup will use XRP via xRapid to settle international payments between individuals.
“I don’t think you can make a horse & cart keep up with a racecar…”
Brad Garlinghouse Ripple CEO
xRapid & Global payments…
Exciting time to be alive?!
Exciting yet scary to companies like Western Union. Such technological advancement in payments thanks to Ripple will see these companies slowly become redundant. Cory Johnson
These international payment companies have long been the staple of international remittance. Yet their fee’s are high and it can take a while to settle.
As the global masses start to realise that they hold the power. The power of choice and of paying lower fees.
So what links them all?!
A brand new international remittance payments startup called SendFriend that’s what. The company was named as one of the top startups to watch in 2019.
Aiming to provide an international payments service. Allowing individuals and companies to pay each other quickly and cheaply.
And they intend to use XRP & xRapid to do just that.
Barclays & Mastercard? What’s the link…
The startup firm managed to gain 1.7 million in startup capital. Some of which was raised by Ripple itself.
“SendFriend has a good combination of an experienced team, large $650 billion remittance market, investors that provide more than just capital, and a growth strategy focused on more than revenue from transactions including APIs and white-label solutions,”
Yuan Ruan - SendFriend Investor
What is exciting here is that mass adoption is starting to gain momentum.
All of the pieces are in place we are all just waiting for the next major moves in prices!
xRapid, Barclays and Mastercard -
A deeper analysis
SendFriend began life in 2017. A team of tech wizards with World Bank and Moneygram experience. SendFriend has a sh7t ton of knowledge regarding global remittance ecosystem.
They entered into a partnership with RippleLabs to get the project off the ground. Here in 2019 they are sitting very pretty indeed and look to make a killing.
Worlds 3rd Biggest Market…
Their first target market will be payments made between the Philippines and the US. According to the World Bank, it is the 3rd largest remittance market in the world.
They received over $650 billion from overseas remittance last year. In the USA, migrant workers sent back $33 billion in earnings alone.
Statement from SendFriend
“SendFriend has built strong partnerships along its supply chain, while developing a foundation to significantly minimize friction in the system. This is a highly competitive space with longtime incumbents, but we are confident in the success of SendFriend.”
“SendFriend has a good combination of an experienced team, large $650 billion remittance market, investors that provide more than just capital, and a growth strategy focused on more than revenue from transactions including APIs and white-label solutions.”
The World Bank has already warned of remittance payments increasing globally. This just feeds more into the hands of this new tech startup, using xRapid while they go!
With $45 million paid in remittance fee’s yearly, this new project could save workers and companies millions. And XRP hodlers a little more wealth as well when it launches…
Good luck SendFriend the #xrparmy is with you #spreadtheword #ignitetheherd