Ripple’s Payment system user Airwallex is expanding its operations in New Zealand.
Ripple is a San Francisco-based Fintech firm. This firm provides payment services globally for big & small businesses without any restriction of the location of business. Ripple uses its XRP token to transfer the funds from one country to another via the use of XRP Token global trade volume. Ripple firms uses its XRP token liquidity to facilitate payments under the decentralized ecosystem, which means no impact on the price of the XRP Token.
Recently Airwallex, Ripple partner & RippleNet global payment system user company, announced its global payment service expansion in New Zealand. So now all the businesses in New Zealand will be able to utilize the international payment service of Airwallex.
Airwallex established partnership with Ripple firm in 2017, to secure the authority to use the XRP ledger blockchain technology in its global payment system.
Ripple vs SEC
No doubt that Ripple is itself a giant in the payment services provider companies but maybe it may face a very big shake in its business expansion.
Recently Ripple official confirmed that Ripple company is ready with planB. According to Ripple official, if Company will lose the legal battle against the US SEC then the company will expand its operations outside the US.
In December 2020, The US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple firm. Through the lawsuit, the SEC agency claimed that Ripple’ XRP token is a security, which is not registered with the SEC agency, and also raised questions on the use of XRP in the payment system. The US Securities body also claimed that the company sold more than $1.2 billion worth of XRP tokens publicly and that was against the securities law.