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Novatti: Partners with Ripple to fast-track growth in Southeast Asia

December 7, 2020

Digital banking and payments group Novatti (NOV) has partnered with a global payments company, Ripple, to target the Southeast Asia market
Through its global financial network, RippleNet, Ripple allows its partners to instantly process global payments and access emerging capabilities, such as blockchain and XRP
Novatti’s customers will gain access to RippleNet and the financial institutions that Ripple works with, such as American Express and MoneyGram
The companies will initially target transactions between Australia and Southeast Asia
They’ll also aim for Novatti to process Ripple’s cross-border payments into Australia which may create a new revenue source for Novatti’s core payments processing business
Novatti’s shares are in the grey, trading at 27.5 cents