Ripple Nium partner now partners with Banco Topazio. Partner development for Ripple is important. This allows Ripple to develop appropriate indirect links, if no direct agreements have been made with specific organizations. Also, if all organizations are already in common cooperation, this can lead to the creation of some common and very significant projects. Therefore, new relationships of partner organizations can positively influence the future of Ripple. Ripple Nium is now partnering with Banco Topazio, which can be beneficial for liquidity on demand (ODL).
Ripple Nium partner with Banco Topazio: Details
Ripple Nium partner with Banco Topazio to deliver on-demand liquidity on demand (ODL). Nium, formerly known as InstaReM, announced a partnership with Banco Topazio on February 18. The digital cross-border payment platform has announced that it “has completed a transaction with one of Brazil’s leading digital banks, Banco Topazio.” This Ripple partner relationship has been kept secret until now, although the money transfer service provider has suggested that the bank uses certain services. Banco Topàzio has been operating in Brazil for over 15 years, and now its customers will be able to use the Ripple ODL platform to process payments.
According to the CEO and co-founder of Ripple Nium partner Prajit Nanu, the partnership will provide customers with access to payments in more than 55 countries. He also noted that his cost-effective international platform for money transfers will allow Banco Topazio to offer more services to its current customers and win new customers. Banco Topazio CEO Haroldo Stumpf said this move will make him “more attractive” in the market.
The announcement mentions that this will open three corridors and expand this list in the future. According to him, initially, a partnership with Nium will allow Banco Topazio customers to make outgoing money transfers from Brazil to Canada, the USA and European countries, but this list is supposed to increase. Earlier, in November 2019, partner Ripple Nium also partnered with Frente Corretora de Câmbio, a leading foreign exchange broker in Brazil, to facilitate cross-border payments.