Ripple, the blockchain giant, has announced a strategic partnership with Web3 financial platform Uphold today. The collaboration aims to enhance Ripple's capabilities in crypto liquidity and bolster its global cross-border payments infrastructure. The alliance will leverage Uphold's advanced trading infrastructure, enabling a seamless value transfer between fiat and crypto across diverse networks.
Pegah Soltani, Ripple's head of payments product, and Simon McLoughlin, Uphold's CEO, have praised the partnership for its potential to fortify cross-border payment services. They envision this collaboration as a transformative force in the global payment infrastructure landscape.
Pat Thelen, VP of Global Account Management at Ripple, highlighted the potential of tokenizing real-world assets in industries burdened by outdated manual processes and latency. This development underscores the potential of blockchain technology to revolutionize traditional financial transactions and paves the way for a more integrated and efficient global financial ecosystem.
The announcement comes on the heels of Ripple's significant legal victory against the SEC over allegations related to its XRP token. Accusations against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen were dismissed by the SEC.
A key component of this strategic alliance is Uphold's expertise in interchanging value between fiat and crypto across multiple networks. Uphold's extensive reach into worldwide crypto liquidity venues enables businesses to expedite payments effectively while ensuring superior customer service.
In other news, Venmo retained its top spot in the PYMNTS Provider Ranking of Credit Card Apps with a score of 92. It was followed by Chime and Capital One Mobile, with Credit One Bank Mobile emerging as a new promising contender.
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