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Ripple partners Modulr to improve payments into UK and Europe

Ripple partners Modulr to improve payments into UK and Europe

Blockchain and crypto giant Ripple has joined forces with British firm Modulr to enable "seamless" payments into the UK and Europe from the rest of the world.

Modulr has built a Payments-as-a-Service platform into the European and UK payment rails - with access to the likes of Faster Payments, Bacs Chaps, Swift and Sepa.

The new partnership means that firms using Ripple's RippleNet for real-time payments will have an alternative to legacy correspondent banking for payments into the UK and Europe.

The firms have signed up Trust Payments as the first customer for the offering, which they say will make cross-border payments faster, more reliable, and cost-effective.

Sendi Young, MD, RippleNet, Europe, says: “Together we look forward to providing faster, simpler cross-border payments experience for customers on RippleNet into the UK and Europe.”

Myles Stephenson, CEO, Modulr, adds: “We’re excited to partner with Ripple - we share the same fundamental goal which is to make it easy to send and control global business payment flows by removing the hidden inefficiencies plaguing international payments today.”

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