Search ForexCrunch
  • Flash FX will use Ripple’s technology for cross-border services.
  • Ripple’s XRP is growing strongly during Asian hours.

An Australian payment transfer platform Flash FX has entered a partnership deal with Ripple. The company will use Ripple’s cross-border payment solutions to improve the foreign exchange services in Australian

“We are excited to be part of the evolution in international payments processing. It’s about time that consumers and businesses saw a meaningful change in how money is sent across borders. The service provides an alternative for Australians who want to send a payment faster and cheaper than banks currently provide,” Nicolas Steiger, the Chief Executive Officer of FlashFX said commenting the news.

According to the press-release, FlashFX shares Ripple’s vision of the Internet of Value and strives to make cross-border payments as easy as sending a text message. The company is the first Australian firm engaged in digital asset business with Australian Financial Services License [AFSL] issued by the Australian Securities and Investments Commission [ASIC].

According to Nicolas Steiger, the new partnership will allow Flash FX users to join the financial evolution by sending and receiving money with Ripple’s instant cross-border transfer services.  

This is considered good news, that helped to push XRP out of the range. However, Ripple enters new partnership deals fairly often, though, they are mostly related with the technology, not the cryptocurrency itself.  

XRP/USD  jumped to $0.3900 before settling down at $0.3814 by the time of writing. The coin has gained about 3.5% on a daily basis and escaped  a narrow range of the recent days. If the berakthrough is confirmed, the upside momentum may gain traction during European hours and take the coin towards critical $0.4000.

XRP/USD, 1-hour chart