RippleNet gets richer by one member. Chinese payment service provider LianLian International joins the Ripples network to use the xCurrent software. Partnership should bring faster and cheaper transactions to China.
As Ripple announced on its website, the payment network will work with Chinese company LianLian International in the future. The cooperation should help open market access to China’s vast e-commerce market and benefit from the huge sums of money traded there. To do this, LianLian International will use Ripples transactional software that enables secure and fast cross-border payments that are traceable through end-to-end tracking.
On the other hand, entire RippleNet benefits from the cooperation. LianLian International can be considered as a gateway to China, through which access to the Chinese market can be achieved. So many more members of RippleNet can benefit from the Chinese market volume. Each year, LianLian International handles billions of transactions between merchants and consumers, making it one of the largest payment processors for China’s e-commerce market.
“LianLian International is a leading provider of payback experience to and from China, as shown by the large number of our dealers and partners. With RippleNet, we will further enhance this experience and increase market share by offering our customers instant Blockchain based payments in 19 currencies we currently support. We are looking forward to work with Ripple to strengthen cash flows between China and RippleNet members in new markets “,
said CEO Arthur Zhu.
“Cross-border payments related to China’s e-commerce market reached $ 1.07 trillion last year. There is a great opportunity to make these payments faster and more cost-effective. With RippleNet, LianLian International will be able to provide merchants and consumers with faster and cheaper payments to China, which was not possible. We also look forward to connect other RippleNet members with LianLian, “
said Emi Yoshikawa, Director Joint Venture Partnership at Ripple.
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