Ripple powers LianLian’s payments to China
Hong Kong-based money service LianLian International will use Ripple’s blockchain solution, xCurrent, to process real-time cross-border payments into China.
LianLian will use RippleNet and will accept payments from overseas financial institutions. In addition, LianLian will provide a connection service into China for other RippleNet members, “supporting transaction flows between merchants and consumers in China and other markets — driving payment volumes higher”.
In a stat snack, Emi Yoshikawa, director of joint venture partnerships, Ripple, says cross-border payments related to China’s e-commerce market reached $1.07 trillion in 2017.
Arthur Zhu, chairman of the board, LianLian International, adds that RippleNet will increase its market share by “offering customers instant, blockchain-powered payments across the 19 currencies that we currently support”.
Incidentally, a few days ago, Santander and Ripple said they will launch blockchain-based consumer payments.
