Visa Acquires Ripple Partner CurrencyCloud for $925 Million

Visa – the leading payment processing company – has completed the acquisition of CurrencyCloud for a whopping 700 million British pounds, worth around $925 million.

• In a press release from December 20th, the payment processing mogul Visa announced that it had completed the acquisition of CurrencyCloud.
• The latter is a platform that allows banks and fintech companies to provide foreign exchange solutions for cross-border payments.
• The acquisition is worth 700 million British pounds or about $925 million, according to the deal that was signed back in July this year.
• CurrencyCloud also confirmed the news through their Twitter account:

Exciting times ahead for Currencycloud as @Visa announce the completion of the acquisition.

We look forward to working together to bring greater transparency, flexibility and control for businesses moving money around the world! pic.twitter.com/R5BCYjgGHg

— Currencycloud (@Currencycloud) December 22, 2021

• It’s also worth noting that CurrencyCloud partnered up with Ripple back in July 2020.
• The focus of this partnership is to process cross-border payments on RippleNet.