Blockchain tech companies are making their way to the Indian market at a rapid pace. The latest addition to the list the Indian market has been done by TransferGo a UK-based leading digital remittance and payment provider. The firm has recently announced the launch of a blockchain-based remittance corridor to India which is going to support real-time cross-border transfers. The entire module is said to be based on the payment-supporting technology of Ripple. It is going to facilitate the services from all locations across the European region.
According to Investopedia, it is stated that TransferGo has not yet unveiled about what product of Ripple is about to be used for the newly offered service. The firm indeed identified that the rate of Ripple adoption in the Indian market is really picking up fast which is one of the key factors for focusing on blockchain technology for their premiere launch. In addition to this, there is a keen interest of various blockchain tech companies in the Indian market for their business expansion.
How TransferGo Is About To Change Blockchain Industry?
TransferGo has future plans for the development of different products and services with a possibility of many innovative blockchain-based payment systems in future. The main objective is to efficiently replace the traditional and conventional bank intermediaries-based payment systems with their new products and services. However, payment systems like SWIFT still maintain their position in the market for the cross-border money transfers but it is time taking, costly and not as secured as the blockchain systems are.
TransferGo founder, Daumantas Dvilinskas mentioned that with the help of blockchain there is the way to establish a real-time communication between banking partners in India and the firm. It will also facilitate the users to make instant international payment. (Via CCN)
Blockchain tech companies have pitched projects in India across various domains like infrastructure, healthcare, real estate, education and many more. The Indian government is fully supporting the adoption and acceptance of this new age transformation.
The post TransferGo Begin Instant Payments Services In India With Blockchain Tech Companies appeared first on OWLT Market.
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