U.Today Franchise
0
📰 News

Ripple-Powered Finablr Teams Up with Alipay to Conduct Transnational Payments

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    Payments company Finablr that recently partnered with Ripple and now runs on RippleNet is collaborating with Alipay to set up a transnational system of remittances

Alipay partners with Ripple-backed Finablr, while banning Bitcoin-related payments
Cover image via 123rf.com
Contents

Ripple-powered global platform for remittance payments, Finablr, runs on RippleNet. On November 27, it announced that it had partnered with Alipay, the payments branch of the Alibaba Group giant to set up a cross-border system of remittance that would work in various corners of the globe.

Finablr partners with Alipay

Alipay customers will be able to use Finablr’s network that is scattered around the world. It includes such companies as UAE Exchange, Xpress Money, Unimoney, etc.

Finablr CEO, Promoth Manghat says:

“We are delighted to welcome Alipay to our growing portfolio of partners. Together we seek to empower the financial aspirations of billions of consumers with enhanced access and convenience for their cross-border payments needs. We will continue to build on our complementary capabilities and look forward to collaborating with Alipay on additional opportunities.”

Users of Alipay will be able to utilize Finablr’s network in nearly 200 countries. Alipay has a massive user-base of over one billion people.

Head of global remittances in Alipay, Clara Shi, stated:

“We are excited to partner with Finablr for global remittances, as we continue to explore new ways to apply our technology in order to benefit more people around the world.”

Alipay to use Ripple’s ODL but it bashes Bitcoin

Since Finablr runs on Ripple’s On-Demand Liquidity technology that works on XRP, Alipay is likely to use this method of cheap and instant payments as well.

Curiously, that a while ago, Alipay laid a ban on any payments on its network to do with Bitcoin – crypto exchanges and OTC trading.

This goes in line with the recent China’s embracement of the ‘blockchain but not Bitcoin’ strategy.

👉MUST READ

Ripple and Ethereum Compared to Biotech Scam Theranos by Bitcoin Core Developer Peter Todd

Ripple and Ethereum Compared to Biotech Scam Theranos by Bitcoin Core Developer Peter Todd

Finablr reports 22% revenue growth

As reported by U.Today recently, the after it had begun to use RippleNet, Finablr soon after posted a rise in its YOY revenue by 22 percent.

Prior to partnering with Ripple, Finablr started collaborating with the Samsung heavyweight. Since then Finablr’s payments have been delivered to almost 50 countries by means of the crypto wallet embedded in the new range of Samsung phones.

Join our Telegram channel to get news even faster!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
CLOUD MININGPromoted
0
📰 News

Ethereum’s Vitalik Buterin: Fiat Money Will Not be Destroyed

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Vladislav Sopov
    📰 News

    Vitalik Buterin, Co-Founder of the Ethereum Foundation and “father” of Ethereum, sat down with Eric Weinstein on The Portal podcast to discuss “old” and “new” economics.

Vitalik Buterin, Ethereum: Fiat Money Will Not Be Destroyed
Cover image via www.youtube.com
Contents

Two intellectuals, Vitalik Buterin (Creator of Ethereum), and Eric Weinstein (PhD, scientist, and Managing Director at Thiel Capital), recently sat down on The Portal to discuss Mr. Buterin's attitude towards the "classic" economics theory.

Libertarianism and Diversity

When both individuals discussed libertarianism, Vitalik Buterin said that libertarians mostly belong to two large groups characterized as either a "leave me alone'" or "conquer the world" approach. This divergence can be extrapolated into cryptocurrencies in terms of their mass adoption.

Mr. Buterin highlighted that there are participants within the crypto community that are assured that fiat currencies will be destroyed and replaced by Bitcoin (BTC). In general, Mr. Buterin estimated that the prospects of any "short-term disruption" for the sake of some "nebulous long-term gain" is skeptical. He said:

I'm definitely not in the camp that actively relishes that fiat currencies will be destroyed. 

Mr. Buterin added that several members within the Bitcoin community share this belief.

👉MUST READ

Are Ripple and XRP Getting Ready to Replace SWIFT?

Are Ripple and XRP Getting Ready to Replace SWIFT?

Peaceful Coexistence

Vitalik Buterin predicts that Bitcoin and other cryptocurrencies will coexist with fiat money and balance the disadvantages of the classic monetary system. He also added that cryptocurrencies will provide "checks and balances" against a government monopoly on "issuing money" rather than "replacing it entirely".

👉MUST READ

Stablecoins Growing in Popularity, Showing Potential to Replace Fiat Later On

Stablecoins Growing in Popularity, Showing Potential to Replace Fiat Later On

Mr. Buterin is well-known as a champion of pluralism in future world of cryptocurrency. He is sure that different communities will defend their views on its development.

Will crypto one day replace fiat money? Tell us your opinion on Twitter.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Recommended articles
CLOUD MININGPromoted