TransferGo, a digital remittance solution for migrant workers and an international payment platform, has confirmed that they’ve been exploring benefits of Ripple’s platform which utilizes XRP, called xRapid.
TransferGo CEO Daumantas Dvilinskas confirmed on Twitter that the company has been experimenting with xRapid.
“Yes, we are looking at xRapid.
— Daumantas Dvilinskas (@daumis2475) November 11, 2018”
Earlier this September, Dvilinskas revealed that a remittance corridor from Europe to India is going to be launched that will utilize Ripple’s technology for optimal and efficient transactions. He said:
“We’re delighted to be one of the first companies in the market to offer our customers real-time money transfers.”
According to TransferGo, by using Ripple’s revolutionary blockchain technology, they are able to establish real-time communication between their banking partners in India, allowing TransferGo customers to send money to family and friends or make international payments immediately.
TransferGo will be launching free money transfers between Europe and India to test the potential of Ripple’s technology.
TransferGo, a Lithuanian startup headquartered in London, said that it has been growing 100% YoY to facilitate migrant remittance in Europe.
TransferGo also became the first organization in the market to offer free international money transfers. TransferGo has been adding 1000 customers every day into their 500 million users list. The company shares the same vision as Ripple does, to completely rewrite how financial institutions facilitate transactions.
Regarding the future of financial transactions, Dvilinskas says
“In today’s global society, customers should be able to transfer money to friends and family internationally at no cost, in the same way they can domestically. Our product innovation is driven by the highest pain points for our customers, which in this case was the fees currently charged by incumbent [and challenger] players in the market.
He further said that he believes in stripping down the complicated fee structures that can be difficult to understand and wants their customers to have complete confidence in the platform, which is providing a service with no transaction fee and no mark-up on exchange rates.