In a recent publication by American Banker, Ripple, a company specializing in blockchain technologies and payments, was recognized as one of the leading global providers of cross-border payments. The article mentions a new product from the British bank HSBC, the Zing app, which expands the capabilities of global money transfers.

HSBC aims to compete with non-banking organizations in the field of cross-border payments using Zing. The article also mentions other significant players in this segment, including British companies Wise and Revolut, which together have 46 million users.

Ripple took third place thanks to its blockchain infrastructure, which allows for almost instant cross-border transfers and is recognized by many major banks. The company has long used its technology in combination with the cryptocurrency XRP and recently combined its solutions into a single offering called Ripple Payments.

American Banker notes that Ripple's latest consolidation is aimed at strengthening its position in the field of international digital cross-border payments. The top five also include traditional companies Western Union and Moneygram.

Ripple continues to maintain its competitive edge. The company recently announced plans to tap into the $1.5 trillion IT expenditure market, using its XRP-based network to provide IT companies with access to real-time payments.