In an effort to bolster its presence in the European market, Ripple announced a strategic partnership with Clear Junction. Clear Junction is a UK-based FCA-authorized e-money institution specializing in cross-border payments for regulated institutions. This development was announced through the crypto giant’s official website moments ago.
The partnership empowers Clear Junction to facilitate instant and secure settlements in GBP and EUR for Ripple’s payments customers. Furthermore, his enhances Ripple’s payout capabilities and caters to the needs of its growing client base.
Ripple Gears Up for Expansion with Clear Junction’s Expertise
Cassie Craddock, Ripple’s Managing Director for Europe, highlighted Clear Junction’s ideal fit for Ripple’s expansion goals. In addition, Clear Junction’s existing relationships with Ripple clients and their proven experience in cross-border payments will be instrumental in Ripple’s European growth strategy.
“From the word go, it was able to support all of our use cases, including providing GBP and EUR payout coverage for our clients sending payments into the UK and European Union. Clear Junction already has strong relationships with a number of our existing clients, and its management team has many years of experience in cross-border payments and banking. We are excited to bring Clear Junction into our network, and we see this as merely the start of our relationship.” Craddock added.
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Mutual Benefits: Security and Innovation
Clear Junction’s FCA authorization ensures the security of funds for Ripple’s partners. This is in adherence to stringent payment industry and data protection regulations. Additionally, their ISO 27001 certification underscores their commitment to robust data security practices.
Clear Junction Embraces Ripple’s Blockchain Technology
Moreover, Dima Kats, Founder and CEO of Clear Junction, expressed their enthusiasm for the partnership. They acknowledge the potential of blockchain technology in correspondent banking and view Ripple as a key player in this evolution. Again, this collaboration positions Clear Junction at the forefront of financial innovation. In Kats’ words,
“At Clear Junction, we work tirelessly to identify new commercial opportunities to enable us to enhance our existing offering across the fiat and cryptocurrency domains. Blockchain technology and cryptocurrencies will definitely be at the core of the evolution of correspondent banking and we are happy to partner with Ripple to be a part of this process…”
Both Ripple and Clear Junction see this partnership as the beginning of a fruitful collaboration. They envision exploring further avenues of cooperation to leverage each other’s strengths and drive advancements in the cross-border payments landscape.
