Earthport has gained further industry recognition with a ’silver’ award in Fintech Finance magazine’s inaugural prize-giving – a success attributable to the strength of the global payment network's blockchain offering.
Earthport announced its gateway partnership with Ripple in August 2015, which led to the launch of the Earthport Distributed Ledger Hub for multiple ledgers, announced in January 2016. This was designed to provide connectivity to additional distributed ledgers as they emerge, all available via a single relationship with Earthport.
In addition, in April 2016 Earthport executed the first cross-border payment transaction received via distributed ledger for Santander UK, enabling it to become the first UK bank to use distributed ledger technology (DLT) for cross-border payments globally – a significant milestone and proof-point in the maturity of the technology.
Santander UK’s DLT-enabled P2P wallet – an international payments app – allows the bank’s UK staff to access a quicker and more transparent way to move money from the UK to Europe and the United States. The wallet is powered by Earthport using Ripple technology.
Not only is the project an excellent example of DLT in action, it also shows what can be achieved when banks and fintechs collaborate.
Hank Uberoi, CEO, Earthport, commented: “We are delighted to win an accolade that not only provides evidence of our commitment to blockchain and distributed ledger technology but also demonstrates how companies like Earthport are identifying creative ways to use this technology. Moreover, it also speaks for the strength of the relationships and partnerships Earthport is building across the industry.”
This award further evidences Earthport’s leadership as a global cross-border payments provider, as it forges the path for innovation and change in the multi-trillion dollar payments industry.
Earthport’s DLT solution builds on its core mission to provide access to as many countries, currencies, accounts and payment types as possible through a single API.