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Ripple-Based Remittances Now Available to 54 Million Customers per New Bexs Partnership

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Fri, 06/03/2022 - 11:25
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Tomiwabold Olajide
Bexs Pay will now be in charge of transactions made through NuPay
Ripple-Based Remittances Now Available to 54 Million Customers per New Bexs Partnership
Cover image via stock.adobe.com

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Bexs Pay, a Ripple user, has now announced yet another partnership, bringing Ripple remittance services to over 54 million Latin American users.

Bexs Pay will now be in charge of transactions made through NuPay, Nubank's online e-commerce payment system. This means that Bexs Pay will act as a payment intermediary for Nubank's 54 million customers.

Brazil-based Bexs Banco, which processes cross-border e-commerce payments for millions of customers, joined RippleNet in 2017 to connect with member banks in North America, Europe and Asia.

In May, Nubank, Brazil's largest digital bank, announced it had added the option for customers to buy and sell Bitcoin (BTC) and Ether (ETH) on its platform, with the intention of adding more cryptocurrencies in the near future.

Likewise, in May, Lithuanian online money transfer provider FINCI announced its partnership with Ripple for cross-border payments with RippleNet's On-Demand Liquidity. ODL utilizes XRP to enable cross-border payments at a fraction of the cost and at a reportedly faster rate than traditional payment rails.

XRP turns 10, and recent updates in its lawsuit

On June 2, 2012, Britto submitted lines of code that created 100 billion tokens that were then called "XNS." However, the current version of the XRP Ledger did not take off until December 2012. Currently, more than 72 million ledgers have been successfully closed on the XRP Ledger, with the total number of transactions surpassing 807,000.

As previously reported, in the Ripple v. SEC case, U.S. Magistrate Judge Analisa Torres has scheduled a conference call for Tuesday, June 7, at 3:00 p.m. EST, to "discuss the SEC's renewed assertion of attorney-client privilege as to internal documents related to then-Director Hinman's June 14, 2018 speech."

Members of the public may now listen to the proceedings via the call-in numbers provided in the brief shared by defense lawyer James K. Filan on Twitter.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.