Ripio Credit Network (RCN), a global peer-to-peer credit network based on cosigned smart contracts, today announced its partnership with Naranja, an Argentinian issuer of more than nine million credit cards in the country
Part of Grupo Financiero Galicia (NASDAQ: GGAL), Naranja has signed a MOU to explore the possibility of using RCN´s protocol to completely record different credit lines on the blockchain. Pilots are expected to be launched on Q1 2019 making Naranja the first credit card company on the region to intend to use blockchain technology.
“We believe that blockchain technology has the ability to improve traditional financial services, specially on emerging markets. We’re really excited with this possibility and eager to start working on an implementation for the Argentinian market” RCN CEO Sebastian Serrano said.
“Here in Naranja, we always want to innovate,” marketing manager Juan Pablo Mon said. “That’s actually part of our mission. We believe that blockchain technology can provide wider and better financial inclusion and RCN’s proposal fits our particular needs. We’re really excited with an upcoming pilots integration.”