Nubank will use Ripple to provide international transfers

Charlie Taylor

Today, Nubank started offering international remittance services, in partnership with the international transfer platform, Remessa Online.

For those who don’t know, Remessa Internacional is an international money transfer, that is, it is the sending of values from one country to another. With this new functionality, customers will be able to send and receive money from abroad through the application itself. Through the “Transfer Internationally” function, the customer will be able to simulate the amounts they want to send to another country, converting them to the desired currency and, later, you will be taken to a Remessa Online page.

Nubank Ripple Partnership

The most interesting thing is that Remessa Online uses RippleNet, a blockchain infrastructure provided by Ripple, which connects to more than 200 banks and payment providers around the world. Note that although RippleNet technology is adopted by the company, the XRP token is not used to carry out transactions. The novelty, therefore, should not significantly affect the XRP quotation. Among some of the features that this functionality can bring, is the 15% promotional discount on administrative fee costs in the first 8 weeks of the partnership. In the opposite direction, of receiving transfers directly From abroad, Nubank customers need to create access to an IBAN (“International Bank Account Number”), through Online Remittance.

With this, the range of services that Nubank offers is expanded (in addition to the already existing credit card services). credit, investment, personal loan, insurance and payment solutions), and Remessa Online hopes to get hundreds of thousands of new customers.

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