Fleetcor Technologies, a US-based provider of commercial payment solutions, is set to pilot xRapid, a Ripple solution that uses its native cryptocurrency XRP.
Under the partnership, Fleetcor-owned Cambridge Global Payments will utilise XRP to enable its clients make international payments to suppliers and employees.
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Commenting on the move, Cambridge COO Mark Frey said: “We are excited for the insights this pilot programme is expected to deliver, and we will use that information to help both Cambridge and FLEETCOR develop our use cases for blockchain in international payments.”
Cambridge has partnered with Ripple previously, exploring Ripple’s enterprise software for messaging and international transaction settlement called xCurrent.
Ripple director of business development Danny Aranda said: “We’re focused on working with partners like Cambridge that understand the benefits of digital assets and are serious about using XRP to overcome the inefficiencies in the global payment system.
“We look forward to collaborating with Cambridge during this pilot to enhance the speed and transparency of cross-border payments for their clients.”
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