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SendFriend Next Generation Remittance Company Announces $1.7M in Capital from 8 Decimal Capital, Techstars, 2020 Ventures, Barclays, MIT Media Lab, Ripple

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Huge!!!  I have said this in previous post Xrapid and XRP don't need banks when it all comes out in the wash.  Business drives banking and the savings and efficiencies of Xrapid/XRP will be used by Business and I will repeat "Business drives banking!" not the other way around Banking would love to have you believe it's that way as it shows them in control

More than $45 billion in fees on remittance services, which often take 3-5 days, was spent last year by the millions of migrants in the U.S. who send home more than $650 billion in remittances. SendFriend will launch as the only option for OFWs to securely and reliably send money internationally with fees that are 65% lower than the industry average as it replaces the frictions and fees of the banking system with one seamless, ultra low cost experience to send money globally.

Through a partnership with blockchain company Ripple, SendFriend leverages xRapid to create a seamless money transfer experience. XRP is used as a liquidity vehicle for cross-border payments, enabling SendFriend to circumvent the corresponding banking system and convert USD to XRP to PHP in a matter of seconds.

Edited by RikkiTikki

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There are going to be a lot of really happy Filipinos (and other nationalities) on the receiving end of these remittances. I think the impact that these savings have on their wallets is often overlooked, and it's worth pausing to appreciate the positive changes that have rippled into their lives.

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