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TransferGo, Ripple partner for instant money transfers

U.K.-based TransferGo Ltd. has partnered with Ripple Labs Inc. to launch money transfer service TransferGo NOW, Finextra reported Sept. 5.

Using Ripple's blockchain network, the money transfer service allows customers to make real-time money transfers to India from anywhere in Europe. Ripple is an alternative to a number of "slow" incumbent communications systems such as Swift, according to TransferGo.

TransferGo is also launching free money transfers between Europe and India, powered by the Ripple blockchain. The service has a delivery of two to three business days with zero fees and a mid-market rate.