The Central Bank of Uruguay Has Registered Ripple as a Money Transfer Company

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Last Updated on January 16, 2023 by Bitfinsider

A document from the Central Bank of Uruguay, in which Ripple is cited seven times, is now making quite a stir in the XRP community. The paper is dated March 7, 2022, yet it is reported to have been published less than a week ago on the Central Bank of Uruguay (BCU) website, where it may still be accessible.

The story was first reported by XRP community member Rafael Aguiar Menéndez from Uruguay, and it was then propagated by Edo Farina, CEO of Alpha Lions Academy.

Ripple’s precise role is still not entirely apparent. The document, however, discloses that the Central Bank registered Ripple partner LATAM SOFTWARE S.A.S. as a “money transfer corporation” and allowed it the permission to explicitly subcontract services to Ripple.

According to the paper, Mati Technologies, a Mexican firm, satisfies the standards for the provider of the technical platform utilized for the client registration procedure (KYC).

Furthermore, according to the document, BCU permitted LATAM SOFTWARE S.A.S. to outsource services to Ripple Services, Inc. in compliance with the Ripple Master Hosted Services Agreement, which was signed on ‘03.12.2021.’

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