Chinese payment system LianLian announced its decision to accede to RippleNet is a payment network that uses Ripple technology for accelerated international transactions.
February 7, LianLian Pay stated that they intend to use xCurrent from Ripple to allow existing customers to make rapid (within one day) international money transfers using the blockchain technology. It is important to note that this product (xCurrent) do not use the token company of XRP, the token is used in xRapid, but not in xCurrent.
Arthur Zhu, CEO of LianLian commented on the company’s decision:
With RippleNet we will further improve the service we offer to our clients, through which you can transfer funds in 19 currencies, with which we now work.
In addition, according to Ripple, the partnership with the LianLian will allow existing members RippleNet to enter the Chinese market.
Founded in 2003, LianLian works in the sphere of money transfers with the appropriate license from the people’s Bank of China. Thanks to its partnerships with a number of banks, the company provides payment processing for many online stores, such as for example JD.com.
After joining LianLian network RippleNet now has over 100 customers using the solution xCurrent.