Ria Money Transfer, a subsidiary of U.S.-based payments firm Euronet Worldwide, has joined Ripple’s blockchain-based payments network seeking faster cross-border payments.
“Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners, while delivering faster and cleaner payments to its users,” according to Euronet’s money transfer segment CEO, Juan Bianchi.
One of the world’s largest money transfer networks, Ria handles $40 billion in volume per year across locations in over 155 countries, according to the announcement.
Marcus Treacher, SVP of customer success at Ripple, said that the partnership will allow Ria to offer improved remittance times and costs for both general customers and enterprise clients.
Ria joins the growing number of financial institutions worldwide to have partnered with Ripple for its blockchain-based payments services. Most recently, these include National Bank of Kuwait, Malaysian banking group CIMB, South Korea’s crypto exchange Coinone, U.S. banking giant PNC, remittance firm UAE Exchange, among others.