Ripple Expands Its Global Payment Network with 5 New xVia Customers

Siamak Masnavi

Ripple, the San Francisco based blockchain company focused on improving global payments, has announced five new customers for its xVia product.

The new customers - FairFX (UK), Exchange4Free (UK), RationalFX (UK), UniPAY (Georgia) and MoneyMatch (Malaysia) - will use xVia to send payments over RippleNet (Ripple's decentralized global network of banks, payment providers, digitial asset exchanges, and corporates).

xVia allows payment originators -- those sending payments on a client's behalf , but not responsible for actually processing the payment and paying it out to the recipient -- to get access to RippleNet via a web services API (Application Programming Interface) without needing to install any software. Through this standard interface, they can send real-time trackable payments (with rich information, such as invoices, attached) globally. It significantly reduces their operating costs because there is only a single point of integration. In Ripple's words, it allows "a variety of different players within the global payments ecosystem to interact and complete transactions directly — no longer requiring custom connections."

According to Asheesh Birla, Senior Vice President of Product at Ripple, by tapping into RippleNet, these new customers will be able to "access new markets quicker and cost efficiently" because they would be able to avoid the problem of "building bespoke connections to banks and networks all over the world", which is "expensive and time consuming"; using xVia, they can reach "new customers in new markets, easier than ever before."

In addition to the benefits of lower operating costs, speed, and real-time payment status, payment originators using xVia to access RippleNet get one other important benefit: lower failure rates (since only one connection needs to be maintained) and thereby lower manual reconcilation costs.

One of these new customers, UK-based Exchange4Free, tweeted that it had joined Ripple's global payment network because it was hoping for improved access to African markets:


VC Firm Andreessen Horowitz Unveils Who'll Teach at Its Free Crypto Startup School

Venture capital firm Andreessen Horowitz (a16z) has unveiled who’ll be teaching at its free Crypto Startup School, and instructors include Coinbase’s CEO Brian Armstrong, Calibra’s head of strategy, and some of its own general partners.

According to a blog post, the list of instructors will also include Coinbase’s chief legal officer Brian Brooks, and its ex-chief technology officer Balaji Srinivasan. From Andreessen Horowitz various general partners will be instructing in the course, as well the founder of Compound Robert Leshner, and the founder of Parity Jutta Steiner.

The post, written by program manager at the Crypto Startup School Jesse Walden, details:

They will share lessons they’ve learned, early best practices, new project ideas, and important considerations to help aspiring entrepreneurs and builders get started.

The school’s program is set to start on February 21 of next year, and will end on April 3. The free seven-week course was announced last month, and as reported the course’s lessons will only be for those whose applications get accepted. Later on, however, a16z plans to make videos of these lectures as well as course materials available to the public.

Some of the main topics that are to be addressed at the Crypto Startup School include cryptocurrency business models, fundraising strategies, regulatory landscape, an overview of application development tools, and more.

Featured image via Pexels.