Ripple breaks into chinese payments market

[Ripple-Stiltskin]

https://zerocrypted.com/ripple-breaks-into-chinese-payments-market/

 

 Before this announcement, all foreign card companies in China had been enforced to work with the existing state-monopoly consortium known as, UnionPay – But Ripple’s partner, AmEX, has now become the first payment company to work without UnionPay.

Anything can be connected to xCurrent using a multi-hop, and so AmEX and LianLian can use xRapid in the future. The multi-hop system could further be expanded throughout China leading into the government lifting the ban.

Multi-hop lets Ripple members transact with banks or payment providers or digital wallets that there is no direct relationship.

 

Nice: another potential market and use case.