UK e-money outfit Moneynetint has become the latest firm to sign up for Ripple's blockchain-based instant payments rails.

Moneynetint, which provides cross-border money transfers and currency exchange for corporate clients around the world, has completed the integration process with RippleNet. The firm has already begun to receive payment instructions from two other network partners and process these payments in a secure and decentralised manner.



Nadeem Ladki, director, account management, Ripple, says: "By leveraging Ripple’s blockchain technology, Moneynetint will now be able to simplify and reduce the FX conversion rates for their customers, increase the speed of settlement and offer services to new markets that would otherwise have been too difficult or too costly to reach in the past."