Swell News: Ripple Joins Forces With Global Payments Provider

RocketFuel Inc., a global entity known for its comprehensive range of payment solutions including ACH bank transfers, Bitcoin, and other cryptocurrencies, has entered into a strategic partnership with Ripple.

This alliance is set to enhance RocketFuel’s existing payment architecture by incorporating Ripple Payments to meet the increasing demand for improved FIAT payment processes for merchants and customers internationally.

Ripple Partners With RocketFuel

The global payments providers’ integration with Ripple Payments encompasses a range of products, including “RocketFuel Pay-In Commerce,” which facilitates in-store and online crypto and ACH payments for merchants, “RocketFuel Mass Pay-Out” for mass payments to numerous customers and partners globally, and “RocketFuel Cross border B2B,” designed for large-scale cross-border transactions using blockchain and stablecoin technologies.

Peter Jensen, CEO of RocketFuel, expressed his views on the outdated nature of current cross-border money transfer systems and the efficiency that modern blockchain and cryptocurrency technologies bring to the table. “By leveraging the power of Ripple’s cutting-edge payment solutions, we are able to revolutionize the way businesses transact by creating better, faster, and cheaper payment experiences for our merchants and partners worldwide,” Jensen said.

Brendan Berry, Head of Payments Product at Ripple, added: “Through partners like RocketFuel, we empower businesses globally by providing efficient and cost-effective payment solutions through the power of crypto and blockchain. Together, we are revolutionizing the way that value is exchanged around the world.”

Ripple Swell: Day 1 Recap

In other news from yesterday’s Swell conference, the fintech company revealed the rebranding of its RippleNet to Ripple Payments, marking a shift in strategy to expand its cross-border payment services. The revamped product expands its global network to over 70 crypto and traditional payout markets and has strengthened regulatory compliance with over 30 licenses, as reported yesterday.

Additionally, the company announced the extension of its partnership with Onafriq, aiming to open up new payment corridors that promise to streamline and economize remittance and business payments between Africa and multiple international markets. The enhanced collaboration now allows customers from PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia to conduct transactions with beneficiaries in 27 nations within Onafriq’s widespread network across Africa.

XRP Price

At press time, XRP was trading at $0.7006. Yesterday’s first day of the Swell conference did not bring any news that had a lasting impact on the XRP price. At the moment, XRP is trading between the 0.5 Fibonacci retracement level at $0.677 and the 0.618 Fibonacci retracement level at $0.7339.

The latter could be the most crucial resistance level before the XRP price could rise towards the yearly high. The 0.618 retracement level corresponds to the ratio of the golden ratio and is of particular importance. Many traders use this level as a key point to determine entry and exit points for their trades.