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It's being reported by Cointelegraph that Ripple partner Earthport has been purchased by Visa, presumably to integrate the company's cross border payment services. Earthport originally teamed with Ripple to use their technology to offer faster, cheaper transfers than legacy systems.
Earthport was originally founded in 1997 as a cross border payment institution. However more recently they decided to bring in Ripple's tech in order to bring their systems into the crypto age.
Now, Visa is purchasing Earthport for £198 million ($251 million), which exceeds the company's estimated value. This is presumably because Visa wants to integrate this system into their own in the coming months. Visa already announced a blockchain-based identity system, Visa B2B Connect, to launch next year.
It is not implausible that Visa can see the writing on the wall and wants to get ahead of competition for integrating digital currencies and what they can offer global trade. If they do implement this technology, be sure to stick right here with Chepicap for all updates!