Amore Finance, a startup providing banking solutions for businesses and individuals startup based in Prague, Czech Republic, has partnered with Ripple to join its ever-growing network of banks known as RippleNet, according to a local news portal. In addition to this announcement, it has been reported that the finance startup joined RippleNet in cooperation with Cleverlance, a technology firm in the Czech Republic. RippleNet was launched by Ripple, with the aim to solve existing problems of cross-border payments, such as real-time payments solutions and low transaction fees. It is a network of banks, financial institutions and financial software providers, mobile wallets and many more, using Ripple’s solutions and enables participants to transact through a single agreement around the globe. Amore Finance is the first financial startup from the Czech Republic to join the network, and providing its customers access to fast and cheap transactions with absolutely no error rates. This was achieved mainly because of Cleverlance guiding the startup throughout its onboarding process.
About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.
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