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Visa Acquires Ripple Partner Earthport For $ 250 Million




Credit card giant Visa Inc. is acquiring British payments firm Earthport for $ 250.6 million. Earthport – which provides cross-border payment services to banks and businesses – Ripple, the blockchain-based payment network, since 201

5.

Under the merger, Visa paid four times Earthport's closing stock on December 26, Reuters reported. Visa is interested in acquiring Earthport because it wants to expand its cross-border payments business, which spiked 10% in fiscal year 2018.

Distributed Ledger Streamlines Payments

Earthport streamlines cross-border money transactions using a single API (application program interface) to clear and settle funds locally with its banking partners. Earthport's clients include Ripple, Bank of America, Hyperwallet, Transferwise, Payoneer, and Japan Post Bank.

In January 2016, Earthport launches the world's first distributed ledger hub (DLH). Using DLH, Earthport clients can use the group's distributed ledger technology through a simple and affordable API.

The API not only provides access to the Ripple ecosystem, but also provides access to the wide array of Earthport offers in over 200 countries.

 Visa Acquires Ripple Partner Earthport For $ 250 Million
(Earthport screenshot) [InNovember2018RippleCEOBradGarlinghousesaidatleast100SWIFT-connectedbankshavesignedonwithRipple

Garlinghouse SWIFT's (Society for Worldwide Interbank Financial Telecommunications) contention that blockchain and cryptocurrencies will not play a role in the banking sector.

"SWIFT said that they did not see blockchain as a solution to correspondent banking. We've got them disagree. "

That's the reason why Garlinghouse recently donated $ 50 million to 17 universities around the world to bolster the adoption of blockchain.

Brad Garlinghouse: XRP Could Surpass.

Ripple said interest in blockchain is soaring as people are starting to discover the game-changing potential of distributed ledger technology.

Brad Garlinghouse: XRP Could Surpass Bitcoin

Despite the current Crypto Winter, Brad Garlinghouse remains supremely optimistic about the future of Ripple, blockchain, and the cryptocurrency industry.

Garlinghouse pointed out that Ripple's own cryptocurrency, XRP, remains the only digital currency to have been successfully integrated

Garlinghouse – who predicts that XRP could eventually surpass bitcoin – has said that XRP is independent of Ripple and that XRP would continue to trade even 19659011] It's very clear XRP is not a security … If Ripple the company shut down, XRP trades on a hundred other exchanges around the world and XR P would continue to trade. Ripple is one of the major participants in the XRP ecosystem, but is a whole bunch of participants.

Featured image from Shutterstock.

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