Changer

Impact

Rise

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/corpay-and-ripple-collaborate-to-launch-the-netting-manager-will-this-boost-xrp-price/">Corpay and Ripple Collaborate to Launch the Netting Manager, Will This Boost XRP Price?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a recent development that promises to simplify the financial landscape for multinational corporations, Corpay, a partner of Ripple, has <a href="https://www.pymnts.com/news/b2b-payments/2023/corpay-cross-border-business-launches-internal-invoicing-solution/" rel="noopener noreferrer nofollow">launched</a> an innovative internal invoicing solution called the Netting Manager. This advanced system looks to streamline and automate the settlement of internal invoices for businesses operating globally.</p> 
<h2 id="the-rise-of-the-netting-manager" data-name="the-rise-of-the-netting-manager" class="wp-block-heading"><strong>The Rise of the Netting Manager</strong></h2> 
<p>The Netting Manager harnesses the power of intercompany netting, a widely used financial technique that consolidates transactions across different currencies. This not only simplifies transactions but also provides considerable cost and time savings.</p> 
<p>Jim Kessler, Vice President of Currency Risk Analytics at Corpay, drew attention to the ease-of-use offered by the Netting Manager. Unlike traditional systems that can take months to implement, Kessler highlighted how the Netting Manager’s streamlined and user-friendly design allows firms of all sizes to adopt the tool in just a few days.</p> 
<h2 id="a-game-changer-for-cross-border-activities" data-name="a-game-changer-for-cross-border-activities" class="wp-block-heading"><strong>A Game Changer for Cross-Border Activities</strong></h2> 
<p>One of the most significant features of the Netting Manager is its compatibility with popular core accounting systems. This integration simplifies intercompany netting, reducing costs, and eliminating float, which is a game-changer for firms engaged in cross-border activities.</p> 
<p>The solution integrates transactions and negates the need for multiple payments and banks, further adding to its appeal for businesses operating across borders. Corpay, initially known as Cambridge Global Payments, teamed up with Ripple in October 2020, joining RippleNet to leverage the network for fast, affordable cross-border payments.</p> 
<h2 id="impact-on-xrp-can-it-reach-1" data-name="impact-on-xrp-can-it-reach-1" class="wp-block-heading"><strong>Impact on XRP: Can it Reach $1?</strong></h2> 
<p>As Corpay ramps up its cross-border services with innovative tools like the Netting Manager, many are questioning what this means for Ripple’s native cryptocurrency, XRP. Currently trading at $0.51, the token has seen a dip of more than 8% over the past week. However, analysts and investors are positive, eyeing a potential surge to the $1 mark.</p>

Corpay and Ripple Collaborate to Launch the Netting Manager, Will This Boost XRP Price?

Table of Contents

CoinPedia News

Other articles published on Jul 27, 2023

WLD Dark Side: What If People Start Forcing Others to Scan Eyeballs?

Crypto Trading Bot Taxes Explained

Match-Trader undergoes major refactoring to add Multi-Chart on mobile and more

MONG.LIFE Website Launched

XRP Surges as 2023’s Leading Altcoin with Impressive Trading Volume

Endless banking crisis: PacWest faces its biggest embarrassment yet

Join our free newsletter for daily crypto updates!