GMT, which describes itself as Israel’s “largest” financial player, is joining Ripple’s network, alongside names such as MoneyGram.
The result of a “long and precise process,” the move reportedly will help the company remain “at the forefront” of the local finance industry.
“After a long and precise process GMT was chosen to be Ripple’s representative in Israel, by so joining Ripple, and its partners, in creating a global financial system, with high-end technology and values such as; [sic] transparency and affordable costs,” GMT’s statement reads.
In a private statement to Cointelegraph, a Ripple representative said that they can “confirm that [GMT is] a Ripple customer, similar to the 100+ customers on RippleNet.”
Ripple has meanwhile faced mixed publicity over its corporate structure, with criticism coming from the conflicting accounts about its relationship with XRP.
XRP is currently up almost 3 percent on the day to press time, trading at $0.33.