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Will TerraPay bring XRP to millions of new global users after their undisclosed acquisition deal?

Global money transfer company TerraPay and one of Ripple’s well-known partners has just been acquired for an undisclosed amount. Besides, the company has raised $ 9.6 million from Prime Ventures, IFC, and Partech Africa, for global expansion, as part of the acquisition deal. With such a long scale, will TerraPay provide any support for Ripple’s XRP?

Will TerraPay’s acquisition agreement bring XRP to millions of users globally?

TerraPay is a fintech startup specializing in payment, operating on local, regional, and global scales. This is a new payment infrastructure provider that links financial institutions, banks, mobile money operators, money transfer operators, into the same payment network to reduce costs.

TerraPay has secured more than 25 operating licenses in more than 60 countries and currently exists in Africa, Europe, and Asia, with plans to expand globally with the amount of $ 9.6 million they raise. TerraPay will also be able to provide banking-like services to industries typically excluded from traditional payment processors and credit card systems. They will also facilitate mobile money accounts used by businesses to pay employees and allow money transfers to be processed in real-time.

In addition to Ripple, TerraPay has actively pursued partnerships with global payment networks and money transfer services such as Visa, Xpress Money, MoneyTrans, Paga, Ria, Instant Cash, and MoneyGram.

With such a long history and scale, will TerraPay provide any support for Ripple’s XRP?

TerraPay will not do that!

Unlike many other Ripple partners that regularly promote Ripplenet technology for cross-border payments, TerraPay has its payment network and payment system. Besides, they also have partnerships with many of Ripple’s direct competitors in the global payment market. Such as Western Union.

Therefore, we can understand that there is no reason for TerraPay to promote Ripple operations. However, the future of TerraPay may use XRP or some other Ripple payment technology in the future. Because they currently do not have a plan for such a joint venture.

Ambar Sur, CEO of TerraPay, said:

“We believe in our mission to address financial inclusion by making real-time national, regional, and global payments accessible to everyone. We are excited by this validation from our marquee investors and look forward to overgrowing and reaching most of the world’s underserved in the coming years.”

will-terrapay-bring-xrp-to-millions-of-new-global-users-after-their-undisclosed-acquisition-deal

Ambar Sur, CEO of TerraPay

Although TerraPay and Ripple share similar goals of making remittances cheaper and more accessible, it remains to be seen how the overlap in these shared goals will be motivated by cooperation. by TerraPay/Ripple.

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