Ripple Makes Major Move Affecting US and Canadian Customers: Details

In a statement called “real-time cross-border payouts into the US and Canada,” i-payout, which is a global payments platform enabling businesses to deliver fast, compliant payouts to workers, merchants, and partners, said it has tapped Ripple Payments to enhance its platform.

The main goal of the collaboration is to “enable fast, transparent cross-border payouts” into the two North American markets, while “reducing settlement delays and minimizing working capital requirements for global platforms.”

Integrating Ripple Payments will allow i-payout to leverage “enterprise-grade digital asset infrastructure to accelerate settlement, improve payment transparency, and support high-volume cross-border payout flows.”

The company was founded almost two decades ago, and it operates as an API-first payout platform. The statement reads that before tapping Ripple, cross-border payments into North America could take days to be completed, which ties up working capital and limits how quickly platforms could deliver funds to users.

Last week, the company behind the popular XRP token outlined plans to secure an Australian Financial Services License, which would allow it to expand its payments offering further in the country to financial institutions, fintech businesses, and enterprises.

Separately, Ripple also began a share buyback program to repurchase up to $750 million in shares from employees and investors. According to Bloomberg, this would put its valuation at a whopping $50 billion.

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