Home / Crypto News / MIT Startup SendFriend will use Ripple's XRP cryptocurrency for payments

MIT Startup SendFriend will use Ripple's XRP cryptocurrency for payments

MIT Startup SendFriend will use Ripple's XRP cryptocurrency for payments  - startup ripple

A consumer payments platform powered by MIT Media Lab, Barclays, Mastercard and Ripple will launch their XRP-based payment service in the first quarter of 2019.

SendFriend will initially target its service to the Philippines. It's meant to be a cheap way to send money home to people who live abroad.

The project, which received the MIT Media Lab Translational Innovation Alliance Award, was developed at MIT's famed MIT CEO and founder David Lighton.

Payments are made in 6 seconds thanks to Ripple

SendFriend featured on the demo day of Barclays Accelerator in New York, hosted by Techstars. The company said it would run cross-border payments in about six seconds. This provides customers with a total cost savings of 65% compared to traditional cross-border payment options.

MIT Startup SendFriend will use Ripple's XRP cryptocurrency for payments  -

SendFriend says its full list of supporters includes Barclays, Techstars, Ripple, MIT Media Lab, Mahindra Finance and the MasterCard Foundation.

Ripple launched xRapid for commercial use in October. The payment solution is designed to use XRP to conduct cross-border transactions between financial institutions in real time.

Source: Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/mit-startup-sendfriend-wird-ripples-xrp-kryptowaehrung-fuer-zahlung-verwenden/

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