Time has come for Australians. Despite the market downturn in recent events, Ripple comes to light with great news. One close to home, Flash FX, a payment transfer platform, has announced the launch of its latest cross border payment solution using XRP that is targeted to improve the concept of foreign exchange in Australia. FlashFX is leveraging its proprietary infrastructure with other licensed money service businesses in relevant payment corridors. They are actively seeking to expand the ecosystem and facilitate other payment processors becoming Ripple-enabled.
This comes to great news for Australians. Nicolas Steiger, current Chief Executive Officer of FlashFX states
“We are excited to be part of the evolution in international payments processing. It’s about time that consumers and businesses saw a meaningful change in how money is sent across borders. The service provides an alternative for Australians who want to send a payment faster and cheaper than banks currently provide.”
FlashFX announced the unveiling of a new cross border payment solution using XRP. FlashFX is the first Australian digital currency business to receive the Australian Financial Services License (AFSL) from the Australian Securities and Investments Commission (ASIC). According to the Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia processes $50 billion a year in cross-border payments.
The payment transfer platform plans to improve its foreign exchange concepts and activities in Australia. The platform, developed on Ripple and using the XRP digital currency for liquidity, delivers transparency for all users. Also, it offers transactional control and instantaneous settlement simultaneously cutting the costs of cross-border payments significantly.
Great Start for XRP
FlashFX started off the year in an astounding manner, paving the way for Australians. Cooperation and competition between money service businesses (MSBs) and banks have become increasingly crucial as FX corridors have thrived. FlashFX is continuously leveraging its infrastructure with other legal MSBs in relevant payment corridors. They are constantly looking to grow the ecosystem and assist other payment processors to become Ripple-enabled.
The rise in RippleNet addoption utilsing the XRP ledger is changing the perception of financial institutions. The XRP transactions that are made to provide on-demand liquidity is a terrifying advantage businesses can have over competitors. These early adoptions into the year will drastically shift the perception of a global stance on how Cryptocurrency is utilised.
Will XRP lead the adoption in 2019?
With the vast cryptospace, the community are starting to see adoption take place entering into 2019. With coins such as IOTA, TRX, and many more take their own reins and seek adoption. Ripple is moving forth with Financial institutional adoption, leading to the question when will this start ticking into the XRP price?