Layer 1s • February 11, 2019, 9:00AM EST
UPDATED: July 12, 2019, 1:37PM EDT

A startup using Ripple's xRapid for remittances just raised $1.7M

Read the non-AMP story on Theblock.co
The Block

Quick Take

  • In 2016, migrant workers sent $575 billion in remittances, mostly to developing countries, paying an average fee of 7%
  • SendFriend is a remittance service that aims to deliver solutions that are 65% cheaper than the industry average
  • The startup has raised $1.7 million in capital from MIT Media Lab, MasterCard Foundation, Barclays, and Ripple
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