Send Friend has raised $ 1.7 million from eight companies, including Ripple and Mastercard, with the aim of using XRP to provide “the smartest remittance method to the Philippines .”
SendFriend is a member of Ripple International’s international remittance network, RippleNet, which adopts the remittance system “xRapid” that utilizes XRP in remittance.
SendFriend plans to develop a service that can send money safely at low cost towards cases where immigrants who transit from the Philippines to the United States transfer money to their home countries. With a seamless remittance that does not rely on traditional banking systems, you can offer a service that is 65% cheaper than the average fee of other methods.
This time, eight companies including MIT Media Lab, Barclays, MasterCard, Ripple, Techstars, Mahindra Finance, 2020 Ventures, and 8 Disishar Capital funded Send Friend.
Send Friend is scheduled to start service from New Jersey, and other states will soon be available from PCs and smartphones.
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Author: magic_jonson – Source Post: https://crypto-times.jp/sendfriend-ripple/
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