Large business houses are slowly but surely switching to cryptocurrency use is evident with yet another entrenched payment transfer firm in Australia, Flash FX, going the next level and adopting XRP solution. The foreign exchange major expects to achieve better performance, efficiency, and least-time to complete cross border transfers with this new venture.
According to Chief Executive Office at FlashFX, Nicolas Steiger, the adoption of Ripple (XRP) is a logical step forward in its strategic goal to evolve as a leading international payments service provider. The new solution which FlashFX shall offer will “meaningfully” change how money is received or sent across the borders by businesses as well as consumers. The top executive concluded that they are now the name for faster and cheaper bank account transfer alternative for Australians.
Ripple Sees Value in the Internet
Ripple’s strategy has been seeking value on the internet and thereby all of its services and products are intended to provide end user lesser costs or operation and more.
At the same time for FlashFX, the value is in ending the era of sending messages over the internet between banking partners of the sender and the receiver before confirming the transaction, before the transmission of money is completed. They wanted to eliminate both of the trade-offs, time lost in communication and the confirmation of transfer of funds, so as to provide quicker and swifter transfers between different geographic points for their clients.
FlashFX Gets a License From Aussie Regulator
In order to accelerate services for its consumers, the payment transfer giant gained a license from Australian Financial Services License( AFSL) from the issuing authority – the Australian Securities and Investments Commission.
On the part of the cryptocurrency industry, XRP transactions are assessed by Bithomp as well as XRPscan platforms.
For some time now Ripple and its currency XRP is a favorite among developers and majority of businesses in the cryptocurrency space are now offering plug-ins to pay or receive in XRP.
Perhaps the best example of the trust and keenness with which global players are willing to adopt cryptocurrency is summed up by Japan’s lawmakers. The country which was not inclined to go the cryptography way has now turned around to the other end of the spectrum. It will allow cryptocurrencies to have a free run. The maximum extent of the government’s monitoring of this industry is allowing the agencies, exchanges and other stakeholders to self-regulate!