3S Money Club is a digital B2B merchant banking platform with head offices in London. It provides a banking service for a community of selected cross-border businesses where members are accepted by invitation only.
On December 9, Ivan Zhizneskiy (Managing Director and CEO) announced that 3S Money Club joined Ripplenet.
According to the announcement:
“By joining Ripple’s growing, global network financial institutions can process payments worldwide instantly, reliably and cost-effectively. It allows network members to exchange instant messages such as live quotes and payment instructions over one standardised and validated protocol. In contrast, 3SMC is now connected to four banking partners through APIs. Each integration is unique and separate”
“Ripple provides a single API to all of its participants” – explains Eugene Dugaev, CTO at 3SMC – “once connected to RippleNet we can communicate directly with all of them. That means we can settle payments faster through local partners across the globe rather than send pricy international money transfers. For example, if our client pays out to Malaysia, our local Ripple partner will get our payment instruction on a blockchain in seconds and settle immediately through Malaysian domestic payment rails. Other network members from other parts of the world may choose to use 3SMC as an entry point into the UK Faster Pay or EU SEPA.”
3SMC has been added to our Ripple ecosystem.
Special thanks to °⁷🄪öN•øƒ•Gūℕ⁷° on twitter for sharing the news with us.