RocketFuel Inc., a global entity known for its comprehensive range of payment solutions including ACH bank transfers, Bitcoin, and other cryptocurrencies, has announced a strategic partnership with Ripple, a leading provider of blockchain-based payment solutions. This partnership is set to revolutionize the existing payment architecture of RocketFuel by incorporating Ripple Payments to meet the increasing demand for improved FIAT payment processes for merchants and customers internationally.
As part of this integration, RocketFuel will leverage Ripple’s cutting-edge payment solutions to enhance its suite of products, including “RocketFuel Pay-In Commerce,” which facilitates in-store and online crypto and ACH payments for merchants, “RocketFuel Mass Pay-Out” for mass payments to numerous customers and partners globally, and “RocketFuel Cross border B2B,” designed for large-scale cross-border transactions using blockchain and stablecoin technologies.
Peter Jensen, CEO of RocketFuel, emphasized the outdated nature of current cross-border money transfer systems and the efficiency that modern blockchain and cryptocurrency technologies bring to the table. “By leveraging the power of Ripple’s cutting-edge payment solutions, we are able to revolutionize the way businesses transact by creating better, faster, and cheaper payment experiences for our merchants and partners worldwide,” said Jensen.
Brendan Berry, Head of Payments Product at Ripple, echoed Jensen’s sentiments, stating, “Through partners like RocketFuel, we empower businesses globally by providing efficient and cost-effective payment solutions through the power of crypto and blockchain. Together, we are revolutionizing the way that value is exchanged around the world.”
In other news, Ripple made significant announcements at its Swell conference, including the rebranding of its RippleNet to Ripple Payments, marking a strategic shift to expand its cross-border payment services. The revamped product expands its global network to over 70 crypto and traditional payout markets and has strengthened regulatory compliance with over 30 licenses.
Additionally, Ripple extended its partnership with Onafriq, aiming to open up new payment corridors to streamline and economize remittance and business payments between Africa and multiple international markets. The enhanced collaboration now allows customers from PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia to conduct transactions with beneficiaries in 27 nations within Onafriq’s widespread network across Africa.
As for the XRP price, at the time of the announcement, XRP was trading at $0.7006. The first day of the Swell conference did not have a lasting impact on the XRP price, as it was trading between the 0.5 Fibonacci retracement level at $0.677 and the 0.618 Fibonacci retracement level at $0.7339. The latter is considered a crucial resistance level before the XRP price could rise towards the yearly high, as it corresponds to the ratio of the golden ratio and is of particular importance to traders for determining entry and exit points for their trades.
In conclusion, the strategic partnership between RocketFuel and Ripple marks a significant milestone in the evolution of global payment solutions. With the integration of Ripple Payments, RocketFuel aims to provide a seamless, efficient, and cost-effective payment experience for merchants and partners worldwide, furthering the adoption of blockchain and cryptocurrency technologies in the realm of global finance.
