The global payment platform MoneyNetint won Ripple’s Best Connector Award for outstanding business growth last year. In an email to CryptoSlate, the company said the award will help strengthen its position as a leader in cross-border payments and expand its user base around the world.
Ripple honors global payments platform for exceptional growth
While not the most marketed event in the crypto space, Ripple’s annual Swell Conference brings together some of the most iconic names in finance and payments. This year’s conference, held in Singapore, made important announcements and discussions about trends and real-world topics in the industry.
One of the traditions of the event is an awards show where Ripple recognizes the efforts and contributions of its partners and employees. The company that stood out at this year’s Swell is MoneyNetint, which won Ripple’s Best Connector Award. Ripple recognized the global payment platform for its “excellence in user acquisition and increased transaction volume over the past year”.
Ripple’s Account Manager Luke Cutajar said:
“In 2019 they took more than 10 partners on board and many financial institutions from around the world are offering their customers a smooth and effective solution for EUR-SEPA clearing.”
In a press release shared with CryptoSlate, the company said the award strengthens its position as a leader in helping international companies successfully complete tax transactions in today’s borderless economy.
MoneyNetint said Ripple’s cutting-edge blockchain payment technology was the main reason behind the decision to join the network and use it to facilitate international cross-border transactions.
Global payments make optimal use of Ripple’s network
As a young company, MoneyNetint, headquartered in Great Britain, was at the forefront of revolutionizing cross-border payments. According to the company, traditional international transactions have prevented companies from operating globally, forcing them to limit their customers only to those within their national borders.
Because of this, they have set themselves the goal of creating a platform that will manage the payment and currency needs of companies around the world. Yishay Trif, the CEO of MoneyNetint, said:
“By overcoming geographic barriers, companies can confidently collaborate and shop with whoever they want, anywhere.”
He stated that adding Ripple’s blockchain solution to their platform enabled the company to deliver a “superior product”. With a trusted and proven platform, companies can operate and thrive globally, he added.
The company currently processes thousands of cross-border transactions per month in Europe, America, Asia and Brazil and partnered with companies like Onfido and PXP Financial earlier this year.
An open, borderless payment platform comes at a cost, however. MoneyNetint has been the subject of an investigation by authorities in Poland and the EU, According to the Fintel report, both MoneyNetint and investors have been warned of violations of securities and capital market laws. While no decisive legal action has been taken against MoneyNetint, its connections with several high-profile seedy companies over the past few years have cast a shadow over the growing company.
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