Travelex Bank Partners with Ripple to Cut Cross-Border Payment Costs and Enable Near-Instant Settlement

Gate News message, April 27 — Travelex Bank, one of the world's largest retail foreign exchange specialists, has partnered with Ripple to enhance its cross-border payments infrastructure. The collaboration aims to reduce transaction costs, enable near-instant settlement, and provide round-the-clock global payment access.

Travelex Bank recently became the first domestic exchange bank approved by Brazil's Central Bank, strengthening its position in one of Latin America's most tightly regulated financial systems. The partnership reflects a broader shift where traditional banks are embedding blockchain technology into core operations rather than treating it as experimental.

Ripple's payment system, built on the XRP Ledger, supports near-instant cross-border settlement with fewer intermediaries than legacy systems like SWIFT. This enables faster international transfers, lower operational costs, and improved liquidity management for financial institutions. The U.S. Faster Payments Council recently recognized Ripple and Stellar as key innovators driving G20 domestic payments modernization, signaling growing industry acceptance of blockchain-based payment networks.