- Prague-based challenger bank extends Ripple’s cross border payments to its customers
- Google tech innovator Amir Sarhingi jumps ship to become head of Ripple’s global payments network
- Both developments follow major revenues hike for Ripple in Q3
The Ripple network has added two more big feathers to its cap with the acquisition of two new resources in its bid to capture a bigger corner of the lucrative international money transfer space.
To extend its alt-coin powered money transfer services, RippleNet, Ripple has proudly announced the addition of Amore Finance, a tech startup based in Prague, Czech Republic, to its continually expanding roster of 120-plus partners, while simultaneously revealing that it has persuaded a lead product manager, Amir Sarhingi, to jump ship from bellwether tech giant Google to join its ranks.
Amore Finance, which provides complete banking solutions for businesses of all sizes, will now be able to use RippleNet to give its customers rapid and cheap money transfer online options. The move comes at a time when the Prague-headquartered firm was seeking to grow its business and offer its infrastructure for companies wishing to send money abroad quickly and at low cost.
Amore is now the first Czech bank to join the Ripple Network, they were attracted to the blockchain innovator’s low fees, swift transfer times and exceedingly narrow and secure infrastructure. Cleverland will be implementing Ripple’s blockchain for Amore, which is expected to take place very quickly.
Commenting, Amore Finance’s founder Ondrej Spodniak said: “Only those banks and service providers that use a client that is transparent, fast and reliable will survive. RippleNet is clearly the future and I am proud that we are the first company from the Czech Republic.”
An announcement is expected in the next few days as to which software solution from Ripple the startup will use, such as xRapid with XRP or xCurrent. Now, the company takes its place in a long and growing list of major Ripple partners such as Bank of America, Santander, Japan’s fifth largest bank MUFG, Western Union and MoneyGram.
Meanwhile, the other new string to Ripple’s increasingly powerful bow comes in the form of Amir Sarhingi, a senior developer at Google’s new wireless messaging service, Chat. RippleNet confirmed that Sarhingi is walking away from his VP of products role at the tech leviathan to head Ripple’s global payments network, RippleNet.
Sarhingi had joined Google just three years ago in 2015 after the tech colossus acquired Jibe Mobile, a startup he founded. He began work at that point on developing the technology for wireless carriers to realise the implementation of Google’s new rich communication system (RCS).
Ripple can now claim bragging rights over poaching a veritable tech wizard to its ranks. The RCS technology is groundbreaking, and it is widely considered to be the far superior successor to SMS text messages, allowing media and commercial messages to be sent via cellphone networks. Reuters reports that the new technology is being widely adopted by global tech suppliers, including Samsung and Apple.
The news comes hot on the heels of a recent Ripple report showing that it had doubled its revenues between Q2 and Q3 2018. Official data reveals that the company sold $163.33 million worth of XRP tokens in the third quarter, more than doubling the $73.53 million it sold in the second quarter.
The international money transfer space is diversifying into blockchain solutions, and Ripple is clearly playing a pioneering role in this.
If you’ve enjoyed this article about Ripple, you might wish to read our recent article here.
