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XRP Early Adopter Forays Into Costa Rica as Ripple’s UBRI Partners Over 35 Universities


newslogical.com 28 August 2020 03:00, UTC
Reading time: ~2 m

Nium, an early adopter of XRP, has collaborated with TeleDolar, a Fintech platform based in Costa Rica. This comes on the heels of a collaboration announcement by Ripple that its University Blockchain Research Initiative (UBRI) linked up with over 35 universities.

The collaboration with TeleDolar will effectively make Nium push its effort to make use of FinTech tools in improving its customer experience and business efficiency in Latin America (LatAm) and heightens Nium’s effort in participating in the global digital economy.

Through the agreement, Nium’s customers have the opportunity to make immediate outbound payments to Europe, the U.K, and the U.S, among other markets.

Rohit Bammi, Nium’s global head of institutional sales, said the partnership with TeleDolar has given Nium the opportunity to create a FinTech platform for consumers, SMBs, banks, and financial institutions in Costa Rica to make remittance to different countries.

Late July, Nium partnered with Ripple to use RippleNet for cross-border transactions. Interestingly, the platform also announced that its customers can make payments using Google Play with its Visa card.

Nium partnered with Visa in November 2019. The partnership signifies that payment from Nium will be made possible through Visa Direct.

Nium was formally referred to as InstaReM. The cross-border platform joined RippleNet in 2018 and makes use of XRP-dependent On-Demand Liquidity (ODL).

While reporting the latest partnership, the head of customer at Ripple, Marcus Treacher, said: “ Nium partners with TeleDolar in LATAM expansion over RippleNet.

Ripple’s UBRI Partners 35 Universities

UBRI is expanding its reach. The initiative has already partnered with over 35 universities with over 180 research projects.

The initiative is now linking up with ETH Zurich, University of Zurich, Ryerson University and Instituto Tecnológico Autónomo de México (ITAM).

Now, UBRI has 37 universities as its partners with 95 new or modified courses across 15 countries since its launch.

Ripple is collaborating with universities worldwide to advance innovations around blockchain technology and XRP Ledger. Ripple sponsors research in different universities through UBRI, and seeks to increase the adoption of cryptocurrency through this means.

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