Ripple, the Blockchain-based payments solution firm, now has five more money transfer operators from Europe and Asia. These clients would be using xVia API over RippleNet to carry out transactions.

Of these new clients, three are from the UK—namely, FairFX, Exchange4Free, and RationalFX—and the other two, UniPAY and MoneyMatch from Georgia and Malaysia respectively.

The xVia API that these clients would be using was developed by Ripple to provide them benefits of RippleNet. It would not only reduce the operational costs but would also increase the money transfer speed and the end-to-end visibility of payments traffic.

According to Asheesh Birla, Ripple’s Vice President:

“By tapping our global network with xVia, our customers now access new markets quickly and cost efficiently. All of these customers run into the same problem: building bespoke connections to banks and networks all over the world. It’s expensive and time-consuming. xVia enables them to grow their overall market share by reaching new customers in new markets, easier than ever before.”

On the API, payment originators would need to maintain only a standard connection, which would reduce the failure rates which are associated with the wire transfers carried out currently. This would also reduce the manual reconciliation costs significantly.

FairFX’s Chief Commercial Officer, James Hickman said:

“xVia will allow us to reach more people, more efficiently and at a lower cost. It will also enable us to deliver on our commitment to give customers the most transparent, efficient and truly global money transfer experience possible using RippleNet.”

With all of the changes Ripple is making on a regular basis, we can surely expect Ripple price (currently 0.8 USD) to shoot up very soon.

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