Visa acquires Ripple partner CurrencyCloud for $925 million
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Answer Visa acquires Ripple partner CurrencyCloud for $925 million
Visa, the world’s leading payments processor, has completed the acquisition of CurrencyCloud for £700m, worth about $925m.
In a press release on December 20, payments processing company Visa with a strong interest in crypto and blockchain technology announced that it has completed the acquisition of CurrencyCloud.
CurrencyCloud is a platform that allows banks and financial technology companies to provide foreign exchange solutions for cross-border payments. The company was founded in 2007 and is headquartered in London.
The acquisition is worth 700 million pounds, or about 925 million dollars, according to data published about the deal signed in July of this year.
CurrencyCloud confirmed the news through its Twitter account, as shown below:
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Exciting times await for Currencycloud as @visa Announces the completion of the acquisition process.
We look forward to working together to bring greater transparency, flexibility, and control to companies moving money around the world! pic.twitter.com/R5BCYjgGHg
– Currencycloud (Currencycloud) December 22, 2021
It is worth noting that CurrencyCloud entered into a partnership with Ripple in July 2020.
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This partnership focuses on processing cross-border payments using RippleNet technology.
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