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American payment services giant Visa Inc. is acquiring Ripple partner Earthport Plc, a payment network for cross-border transactions. Founded in 1997, London-based Earthport is a financial services firm that offers cross-border payments service to banks and financial institutions. Earthport is a partner of tech company Ripple, where the partnership is aimed at integrating the Ripple protocol into the firm’s existing payment network to improve international transactions.
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In 2016, Earthport launched a single application programming interface (API) designed to connect banks to Ripple’s distributed ledger protocol when processing cross-border payments, according to financial and business news outlet Finextra. The development was reportedly set to enable banks to overcome budgetary, technology and compliance constraints.
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In October, Cointelegraph reported that Visa was readying its blockchain-based digital identity system “Visa B2B Connect” for cross-border payments for launch in the first quarter of 2019. The system reportedly tokenizes sensitive business data — such as banking details and account numbers — granting them a unique cryptographic identifier that will be used for transactions on the platform.
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Real or Fake?
Thoughts about Bill Gates
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@timeinvestors
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I know he hates crypto, but aside from that, I think that Buffett is a pretty smart entrepreneur/investor. You'll never see him caught in a Lambo! Your thoughts
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@nowfuture
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