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Ripple Partner Officially Recognized as Money Transfer Company by Central Bank of Uruguay

Ripple Partner Recognized as official Money Transfer Company by Central Bank of Uruguay

A document from the Central Bank of Uruguay is causing excitement in the XRP community. The document, which mentions Ripple seven times, is dated March 7, 2022, but was reportedly only recently published on the Central Bank of Uruguay’s website.

The exact role of Ripple in the document is not yet clear, but it reveals that the Central Bank registered Ripple partner, LATAM SOFTWARE S.A.S., as a “money transfer company” and granted it the right to outsource services specifically to Ripple.

According to the document, LATAM SOFTWARE S.A.S. provided all the necessary information and documentation for the registration, including contracts with Mati Technologies and Ripple Services.

The Mexican company Mati Technologies is also described as meeting the requirements for the provider of the technological platform used for customer registration.

The Central Bank also authorized LATAM SOFTWARE S.A.S. to use the RippleNet platform for the exchange of information between correspondents, and to subcontract with Amazon Web Services for the hosting of information on servers in London, England. This is all based on the Ripple Master Hosted Services Agreement signed on March 12, 2021.

This news was first reported by XRP community member Rafael Aguiar Menéndez from Uruguay and later reported by Edo Farina, CEO of Alpha Lions Academy.

The document provides more details on the exact role of Ripple and its partners in the money transfer industry and confirms the use of Ripple’s technology in the process.

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