For the first time, South America is bullish in Ripple’s underlying technology. Chile’s financial entity “Currency Bird” has signed a partnership deal with Ripple. With this, Currency Bird has joined the list of significant players that are already employing Ripple’s product across their payment services.

The latest move will benefit Currency Bird’s users over 50 new destinations and new currencies along with better payment processing. It can process its customers’ payments anywhere in the world instantly, reliably and cost-effectively using RippleNet. The firm did not disclose which of the Ripple payment solutions it uses. It will most likely be Ripple’s payment messaging system xCurrent.

The partnership took place earlier this year in March and it already functional as of date. This will help Ripple increase its grip in the region. This is because global payments will most likely rise exponentially in the coming years.

RippleNet provides liquidity in cross-border transactions on demand. This helps companies like Currency Bird to process payments faster, at super affordable prices. In the month of April, the Saudi British Bank launched a global payment system with the help of Ripple.