Chinese Payment Provider LianLian Pay Joins Ripple Blockchain Network
Despite the fact that China plans to crack down on overseas cryptocurrency trading, Chinese payment provider LianLian joined RippleNet, which is a payment service that facilitates cross-border transactions.
According to Coindesk, LianLian Pay announced it will join Ripple’s xCurrent solution. The goal is to provide same-day cross-border transactions for its existing customers.
Since 2003, People’s Bank of China-authorized LianLian has operated as a third-party payment solution for its e-commerce partners, and this new technology will help give customers even more payment options.
CEO of LianLian, Arthur Zhu said, “With RippleNet, we will further enhance that experience by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support.”
This move allows existing RippleNet customers access to the Chinese market, which could be big news for Ripple as well as LianLian. This exciting announcement means that Ripple’s xCurrent solution has over 100 customers, and looks poised to grow even more in the future.