Via a joint project of AmEx – The LianLian Group, Ripple’s path of penetrating China’s e-Commerce market has made itself clear.
With the target of processing card payments faster and more efficient, AmEx’s joint venture has been approved by the Chinese which has made AmEx the first firm located in the U.S to be directly linked to China’s aforementioned market.
Ripple[NET] has signed down a partnership at the beginning of this year with AmEx’s JV LianLian Group to deliver better financial and payment services.
Keeping in mind that the firm behind XRP, RippleNet, and xCurrent provides various payment solutions for within and outside a specific country, LianLian Group [counting +150 registered users] utilized the blockchain tech to complete and settle e-commerce payments. Adittionally, cross-border transfers have been in the menu also being delivered with the use of xCurrent.
Card payment firms outside of China are known to meet struggle operating freely in the middle of all the strict policies as they are forced to function with UnionPay. But AmEx is the first to work without the state-monopoly consortium.
The approval is a “significant step toward opening up China’s bank card market to foreign investors”, the central bank said, adding that it would continue to ease in an orderly way market access for clearing and settlement institutions. – Reuters.
The second-most famous coin for cross-border transactions XLM has cleared the monthly [since 04/2018] declining trend opening gates for more gain as showcased the last 24-hours with 6.20% increase despite the whole market battling to stay in the green against sellers.
Breaking above the $0.25-0.26 level, which is the previous round before the latest market plunge, has hoisted and pushed the value against the US Dollar speedy upwards.
Per time of writing the pair, XLM/USD is changing hands at $0.2764 which mark has not been visited since beginning of August and end of September for a short amount of time.