The crypto firm is looking to make cross-border payments faster, cheaper and more transparent. It explained that in its current state, cross-border payments are slow and unreliable; charging expensive fees. The average fee for consumers to send money across borders is around seven per cent. This would cause a charge of $14 for every $200 sent. The firm recognised that the fee is incurred by the receiver, which especially affects the unbanked. Because of this, Ripple looked to reduce this issue to improve financial inclusion.