The crypto industry is an economic space that has grown to become one of the fastest expanding industries, with numerous partnerships being inked between various entrants every week. Ripple, the producer of XRP, is a company with quite a huge client-base boasting over 200 partnerships with financial institutions in its RippleNet.
That’s why it’s interesting that a RippleNet user, Finablr, is now teaming up with the world’s tech giant, Samsung, to venture into expanding their payment system.
UK-based Finablr and Samsung Electronics America plan to pool resources to come up with a payment system named “Money Transfer.” To that effect, Samsung Pay, a mobile payment app created by Samsung, will evolve into something better by offering users a wide range of payment options facilitated by Finablr.
Users in the US will be able to integrate their credit or debit cards with the Samsung Pay app, allow them to access the many payment options and currencies offered by Finablr.
Finablr Has A Wide Reach
According to Finablr, there are currently over 25 million people using its services across the world, and the company has established a presence in 170 countries across the world.
In that case, the partnership with Samsung is expected to further expand the reach. At the time of its release, Money Transfer will serve 47 countries.
Is XRP In The Mix?
What’s even more interesting is that Finablr is a client to Ripple, having joined RippleNet back in December 2018. Some RippleNet members are already using XRP as the base currency for cross-border payments.
In fact, an exchange run by Finablr in UAE (United Arab Emirates) is already using Ripple’s payment solutions, a move that might culminate in finally adopting XRP.
From an optimist point of view, it’s safe to opine that the partnership between Samsung Electronics America and Finablr is pretty positive for XRP, especially if the payment system they’re working on integrates XRP.
However, the two companies are yet to announce whether XRP will be used, although there’s still a possibility given that Samsung is an early supporter of cryptos and the blockchain technology.