As the economy develops and the majority of the world’s population begins to use the new technology, the Ripple continues to contribute to the development of cross-border remittances, which have dramatically increased in recent years. The reason for this explosive growth is the acceleration of economic activity in the emerging economies of Africa, Asia and Latin America, and by extension their GDP, the need for faster and cheaper ways to transfer funds on a local and international level inevitably increases. Also there are small and medium-sized enterprises, which for 2018 is already transferred money to $ 600 billion and are responsible for the creation of jobs for more than 60 percent of the population.
The company Ripple present in more than 40 countries, offers innovative solutions to small and medium enterprises requiring faster payment systems. These countries, mainly in Africa, Asia, Latin America and Europe, open up new corridors where Ripple helps the new business, since they contribute to the displacement of more than $ 2 billion last year alone.
Given that the credit deficit is around 1.2 trillion, businesses cannot afford delays in payment or settlement of the issues. However, through such intermediaries as BeeTech and InstaReM that open doors from Brazil to Western Europe, Remitr and FlutterWave that connect Nigeria with Canada and InstaReM and RationalFX, who have the corridor from Britain to many countries in Southeast Asia, enterprises in these regions will be able to grow. It is thanks to the effect that the use of the product Ripple.
It is striking that by the end of this year predicted that the total amount of cross-border transfers from around the world will be more than 642 billion, which means that the demand for solutions Ripple will grow. Implementing various solutions, providers of payments will save millions of dollars in fees from natural persons or small and medium enterprises that rely on remittances from different parts of the world for survival.
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