Ripple keeps on exciting the crypto market with its rich bulletins of new partnership. In a recap of the year 2018 report, Kathy Garner who is the CEO and President of Catalyst Corporate talks about ‘strategic partnership with Ripple, signed in last year’, which will likely be in operation this year.
As claimed on its website, Catalyst Corporate offers ‘financial services including payment solutions, balance sheet management assistant, liquidity investment options and other similar services. In a video released a few days back, Kathy Garner who will be retiring from the firm in March 2019 said that the partnership with Ripple will enable them to ‘send secure international transfer in minutes’. As the mission statement of Catalyst, she addresses that;
Our goal is to send the international transaction to Mexico via Ripple blockchain solutions. With this co-operative arrangement known as Currentz, secure cross-border transactions can be completed within 10 seconds.
Nevertheless, the Texas-based Catalyst Corporate has announced to leverage Ripple’s technology at the Dallas-area Omni Frisco Hotel in late 2018. The announcement stated that the primary aim to adopt Ripple’s underlying technology is to attempt various challenges that mainly including ‘international transfers’. While appreciating the partnership to adopt blockchain based solution, Brad Ganey, Senior vice president of Catalyst Corporate said;
The traditional international wire experience fails to meet today’s expectations from a price, speed and ease-of-use perspective,
While Kathy mentioned the success of Catalyst Corporate in 2018, it is more likely that the year 2019 with Ripple’s technology will help them reduce the cost of global remittance. As such increase the efficiency and maximize the overall profit. As Kathy is soon retiring from the chair position, Bruce Fox will be the new CEO to continue with Catalyst Corporate. Additionally, in an earlier announcement, Firm’s vice president had also revealed that the ‘Ripple’s xRapid will solve their major challenges’.
“Blockchain technology and specifically Ripple’s xRapid product resolve all three of these challenges simultaneously. Through our subsidiary companies’ technology platforms, Catalyst Corporate will leverage XRP – through xRapid – to test the instant transfer of money across borders on behalf of our member credit unions. We have signed a production contract and are currently building out our test plan.”