Ripple is growing very rapidly in the last few years. The company has been convincing several companies to enter its RippleNet and many of these enterprises have been successful so far. InstaReM, one of the members of RippleNet, is proof that these firms are growing.
InstaReM was recently reported to have started its expansion into Canadian territory and strengthen its position in North America. InstaReM will also be connecting Canada to over 60 markets, including the U. K. and the U. S., the two most important markets for InstaReM.
As Canada was considered an important remittance country, it was one of the first regions that were considered when the company chose to expand. Now, the clients of the company in the country will be able to use the low-fee solutions of the company, which are powered by the RippleNet.
The co-founder and CEO of InstaReM, Prajit Nanu, affirmed that his firm is committed to giving the customers a platform in which they will be able to send their money all over the world, as InstaReM has corridors that range from the Asia-Pacific region to the European Union and North America.
He affirmed that the company’s main goal is to give solutions that can be cheaper and faster than other cross-border transfer services. The services, which use zero-margin FX rates, charge only a small nominal fee to transfer the money. By using RippleNet, they can offer something that is much more efficient than SWIFT, the current top player in this area.