EZForex, Star One CU and Ripple conduct DLT-based currency exchange
25 April 2017 | 4667 views | 0
eZforex.com, Inc. (eZforex), a national leader in providing foreign currency for travelers through financial institutions and cutting-edge international payments solutions, announced today that it is expanding its suite of global payments solutions to include Ripple’s BlockChain technology.
Ripple, a San Francisco based company, connects banks around the world by offering real time cross border payment services to its customers using BlockChain and Distributive Ledger Technology.
After one year of development, eZforex, in collaboration with Ripple and Star One Credit Union, was able to deliver live payments to 4 continents on April 10, 2017. Robert Crandall, former CEO of American Airlines, Inc. and an eZforex investor noted, “This is a major step forward. Now all financial institutions, regardless of size, can offer their customers access to the safest, lowest cost funds transfer technology.”
Once known for innovating turn-key Dodd-Frank 1073 compliance solutions, including the Federal Reserve’s FedGlobal® ACH initiative, relied upon by several international payments providers nationwide, eZforex is now taking a leap into the future by cooperating with Ripple to create the newest industry standard: International BlockChain Payments for the banking industry.
“The mainstreaming of BlockChain Technology will change the cross-border payment landscape for banks and credit unions in the United States sooner than anyone predicted,” noted Jorge Jimenez, CEO of eZforex.com, Inc.
Evan Shelan, eZforex Chairman added, “We are ecstatic to have a part in helping move the industry forward and excited to begin rolling-out BlockChain Technology to all eZforex banks and credit unions this year.”
Lynn Brubaker, Star One Credit Union’s VP Deposit Services added, “Our members are going to greatly benefit from the speed, high security, and low prices that BlockChain technology provides for our international remittances.”
eZforex, Ripple, and Star One Credit Union are featuring their success story of launching the first BlockChain payments in the USA at NACHA Payments in Austin on April 24th.