- Volante Technologies singles out Ripple as a significant catalyst for Payment Service Providers during an EBAday event, validating the advancements in cross-border payments.
- Ripple deepens its roots in the APAC region with the In-Principle Approval from the Monetary Authority of Singapore (MAS) to offer regulated digital payment token products and services.
Volante Technologies, a global cloud payment collaborator noted for expediting innovation in financial businesses, recognized Ripple as a substantial game-changer for Payment Service Providers (PSPs). This acknowledgment was part of an EBAday event, an esteemed conclave for payments and transaction banking executives arranged by the Euro Banking Association (EBA) in partnership with local service providers.
volantetech states that Ripple and CGI offer a win for Payment Service Providers.#follow #ripple pic.twitter.com/BwNjYdqvQS
— Mr. Man (@MrManXRP) June 27, 2023
At this prestigious forum, Chief Marketing Officer at Volante Technologies, Vinay Prabhakar, discussed the perks of cloud payment processing, spotlighting Ripple as a crucial player. EBAday convenes industry leaders and banking executives from the world over, and the discussions hold considerable weight, especially when they involve revolutionary solutions like Ripple and GPI (Global Payments Innovation) for PSPs.
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The International Monetary Fund’s (IMF) prior admission of Ripple and XRP as vital entities in revolutionizing cross-border payment services was reiterated in the context of this endorsement by Volante Technologies. This alignment was further circulated within the crypto community by a pseudonymous, yet influential, XRP community member through a video snippet from the EBAday event.
It is important to note that Volante Technologies, a leading global company, often features in these high-profile gatherings. Their emphasis on cloud payment processing has underscored its role as a crucial catalyst for innovation, flexibility, and cost-reduction in financial institutions. The integration of Ripple’s technology and GPI only augments these opportunities for PSPs.
As the financial landscape evolves, Ripple’s answers to cross-border payment services have earned commendation from several central banks worldwide. Ripple’s position has been further bolstered by recent in-principle regulatory approval from the Monetary Authority of Singapore (MAS). This permits Ripple Markets APAC Pte Ltd (Ripple’s Singapore division) to provide regulated digital payment token products and services in the city-state.
Singapore’s reputation as a global financial center and an access point to business in the Asia Pacific has been enhanced by its clear and progressive regulation of digital asset innovation. Fewer than 20 in-principle approvals and licenses have been issued to crypto companies by the MAS so far, marking a significant stride for Ripple in scaling customer use of crypto-enabled payments in Singapore and the APAC region. As Ripple’s presence in the region develops, this approval marks a pivotal turning point in the country’s positive and forward-thinking adoption of digital assets.
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