FlashFX: International money transfers from Australia to India, partly via Ripple

FlashFX, an Australian money transfer company, and Ripple, go way back. All the way to December 2016, when FlashFX announced the use of Ripple’s technology platform and XRP to deliver extraordinary transparency, speed and transactional control to users. Moreover, it was mentioned that it was leveraging its proprietary infrastructure with other licensed money service businesses in relevant payment corridors. They were actively seeking to expand the ecosystem and facilitate other payment processors becoming Ripple-enabled.

On January 29th, FlashFX announced such an expansion with the operation of a new money transfer corridor:

“we now support international money transfers from Australia to India. Sending money to family and friends back home just got a lot more affordable.”

The announcement continued to explain that FlashFX is built on the latest technology, and partly integrated with the distributed-ledger protocol Ripple. This way, it removes the middlemen from the traditional transfer process and passes on the savings to you. This why they are able to offer zero transaction fees, more competitive exchange rates and speedier transfer times than other providers.

The savings compared to other solutions are impressive. The transfer time, however, seems to be much longer than what Ripple typically has to offer. Perhaps this is due to the fact that Ripple is partly integrated? XRParcade will continue to monitor FlashFX and try to obtain additional information.