San Francisco-based firm Ripple has joined forces with UK-based payment company Clear Junction in order to improve the efficiency and security of payouts denominated in the British pound and the euro.
Ripple's Cassie Craddock has stressed that Clear Junction is "a great fit" for the company since it is capable of supporting all of its existing use cases. Craddock believes that the partnership between the two companies is going to evolve further in the future.
Last September, Clear Junction acquired British cryptocurrency firm Altalix in order to gain a competitive edge in the crypto market.
Gamza KhanzadaevEarlier this year, the Financial Times, one of the leading business outlets, named Altalix as one of the fastest-growing European companies.
Clear Junction is also known as one of Binance's payment partners. In September 2021, it cut the exchange off due to a regulatory crackdown in the U.K.
Alex DovbnyaBillionaire Chris Larsen, one of the co-founders of Ripple, praised the UK as one of the most crypto-friendly jurisdictions last year after Chancellor Jeremy Hunt singled out digital technology as one of the key growth sectors. Susan Friedman, head of policy at Ripple, has also recognized London as a burgeoning cryptocurrency hub.
Ripple CEO Brad Garlinghouse has repeatedly named the UK alongside some other crypto-friendly countries like Japan and Singapore in order to highlight the correct approach to crypto regulation. In fact, Ripple once considered relocating its headquarters to London.
Last year, the company also expanded its University Blockchain Research Initiative (UBRI) to several European universities.
Dan Burgin