RippleNet customer Currencycloud, soon to be bought by Visa to create a new e-money solution, BnkPro, in collaboration with global broker FxPro
In a fresh press release, Ripple customer Currencycloud has stated that it has inked a partnership deal with FxPro, a top global player on the Forex market. Together they plan to create new e-money solutions as part of FxPro’s new business, BnkPro. This service will enable a large market segment to gain access to banking-like services by means of a new mobile app.
Multi-currency digital wallet linked to Mastercard
BnkPro will allow users to set up a multi-currency digital wallet that will be linked to a debit card provided by Mastercard. This move will enable users to send money overseas via FxPro’s cross-border payment corridors and conduct payments, using their multi-currency accounts.
Besides, customers will be able to receive, send and store their money in various currencies, trade and invest in securities and other assets.
Currencycloud’s contribution
The Currencycloud Spark solution will enable the new FxPro service to massively expand its geographic coverage and connect it to new local and transnational payment corridors, which will allow its clients to seamlessly work with their funds using multiple currencies.
FxPro Group CEO Charalambos Psimolophitis stated that Currencycloud will help his company to achieve its goals and help BnkPro to become a leader in the market of online payments and money transfers.
Visa intends to acquire Currencycloud
International payments giant and card emitter Visa announced that it intends to purchase Currencycloud. This RippleNet member operates in more than 500 countries and works with over 180 financial institutions and banks.
Visa evaluates the company at a whopping $962,780,000. By acquiring it, Visa plans to enlarge its list of partners, customers and payment rails globally.
