In a recent report by Fixextra, Vivek Awasthi, the Chief Information Officer at a foreign exchange broker and international payment provider called Currencies Direct talked about the company’s partnership with Ripple and the establishment of xCurrent in Indian corridoors. xCurrent, which is a product under RippleNet, assists its customers in tracking and settlement of the payments.
According to Awasthi, the leading blockchain fintech firm, Ripple reflects the future for the industry of international remittances and demonstrates the role of technology in enhancing customer experience. In his words:
“Our partnership with Ripple showcases the future of international payments and how technology can greatly improve the customer experience. When you think about the vast volumes of money that are being transferred around the world and to India specifically, it’s only right that customers have the ability to check the status of their funds at every stage.”
In a continued statement, Awasthi also opined that xCurrent is suitable for a versatile customer-base, from a trader to a financial director as well as controller. Furthermore, the technologist believes that xCurrent could be the trump card in the remittance sector. He stated:
“Whether you’re a consumer, sole trader, financial director or controller, people always want to have visibility of their money and we see xCurrent as a gamechanger for payments.”
Earlier this year, Currencies Direct announced the results of their test with another product by Ripple, xRapid, wherein the pilot was announced back in the year 2017. During the time of the announcement of the results, Brian Harris, an official from Currencies Direct also expressed that his company was proud to be early adopters of the blockchain technology in the industry.
Metatron, a cryptocurrency and blockchain space follower on the news stated:
“This pretty impressive, because India is not fond of crypto”
Another Twitter handle named XRP 2020 also commented, appreciating the ecosystem. The user wrote:
“They keep building.”
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