Nubank will use Ripple to provide international transfers


Today (26), Nubank began offering international remittance services, in partnership with the international transfer platform, Remessa Online.

For those who don’t know, Remittance International is an international money transfer, that is, it is the sending of values ​​from one country to another. With this new functionality, customers will be able to send and receive money from abroad through the application itself.

Through the “Transfer Internationally” function, the customer will be able to simulate the amounts they wish to send to another country, converting them to the desired currency and, later, they will be forwarded to a Remessa Online page.

Most interestingly, Online Remittance uses RippleNet, a blockchain infrastructure provided by Ripple, which connects to over 200 banks and payment providers around the world.

It is worth noting that, although RippleNet technology is adopted by the company, the XRP token is not used to carry out transactions. The novelty, therefore, should not significantly affect the XRP quote.

Among some of the features that this feature can bring is the 15% promotional discount on administrative fee costs for the first 8 weeks of the partnership.

In the opposite direction, to receive transfers directly from abroad, the Nubank customer needs to create access to an IBAN (“International Bank Account Number”), through Online Remittance.

With this, the range of services that Nubank offers is expanded (in addition to the already existing credit card, investment, personal loan, insurance and payment solutions services), and Remessa Online hopes to reach hundreds of thousands of new customers.

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Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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