Ripple expands network to promote adaptation of XRP

  • The 3S Money Club announced a few hours ago via LinkedIn that they will join RippleNet to benefit from Ripple’s software solutions.
  • The company hopes to achieve significant cost and time savings as transactions can be processed almost in real time.

Ripple’s partner network has continued to grow strongly this year and now has more than 300 members who rely on Ripple’s payment solutions. In addition, a few days ago the transaction volume reached a new all-time high, so that many new milestones were reached this year.

3S Money Club joins RippleNet

Ivan Zhiznevskiy, co-founder of 3S Money Club, has announced on LinkedIn that the company has joined RippleNet. By joining, 3S Money Club will have access to a variety of global payment service providers who can help make international payments quickly and reliably. Zhiznevskiy continues:

By joining Ripple’s growing, global network financial institutions can process payments worldwide instantly, reliably and cost-effectively. It allows network members to exchange instant messages such as live quotes and payment instructions over one standardised and validated protocol. In contrast, 3SMC is now connected to four banking partners through APIs. Each integration is unique and separate.

3S Money Club (3SMC) offers its customers the ability to transfer money on the same day in the UK, Europe, Russia, China and EMEA. The company supports all prominent Fiat currencies, including GBP, EUR, USD and 30 other currencies.

All customer funds are said by the company to be held in separate accounts and backed by world-class banks. The bank ensures 100% liquidity at all times. Furthermore, 3SMC is a licensed e-money institution regulated by the UK Financial Conduct Authority.

3SMC looks forward to working with them and describes that customers worldwide will benefit from the new technology:

For example, if our client pays out to Malaysia, our local Ripple partner will get our payment instruction on a blockchain in seconds and settle immediately through Malaysian domestic payment rails. Other network members from other parts of the world may choose to use 3SMC as an entry point into the UK Faster Pay or EU SEPA.

So far, 3SMC has not announced whether they will use ODL. We have contacted the company and will update the article as new information becomes available.

Ripple based exchange starts Pre-Token sale

Sologenic is another Ripple partner using XRP and RippleNet to token equities, funds and ETFs and facilitate on-demand token asset trading. In other words, the platform bridges the gap between crypto assets and non-blockchain assets (such as equities and ETFs) from more than 25 global exchanges.

The traditional financial products are tokenized and corresponding stablecoins are issued on the XRP ledger. For example, shares of TSLA or USD are issued as TSLAƨ or USDƨ The stable coins will be redeemable against XRP and the SOLO coin. The latter is used by Sologenic for market making and the provision of liquidity.

CoinField yesterday launched its SOLO Token Pre-Sale, which started at 18:00 UTC (10:00 PST). The pre-sale will take place from 9 to 16 December 2019. A limited number of participants will be able to purchase a total of 40 million SOLO tokens at a reduced price prior to public sale in the first quarter of 2020.

Coinfield is a regulated European Fiat-to-Crypto exchange operating in 193 countries worldwide. The platform supports the six major Fiat currencies and a large number of digital assets.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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