Ripple Expands In Europe With On-Demand Liquidity In France, Sweden
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Ripple To Embrace Blockchain Technology
In its new partnership with Lemonway, Ripple demonstrates its forward-looking approach to embracing blockchain technology. Lemonway's partnership with Ripple enables it to improve operational efficiency by eliminating the need to pre-fund foreign accounts. Therefore, Lemonway can expand and develop its business by using pre-funded funds that had previously been imprisoned.
Jeremy Ricordeau, Chief Operating Officer at Lemonway, stated that the partnership aims to bring significant benefits to the business by using Ripple's ODL to support Lemonway's treasury activities.
Xbaht-Swedish Payment Processing Company
Money can be sent between Sweden and Thailand due to the Swedish payment processing company Xbaht. With the help of Tranglo, the Singapore-based cross-border payment center, Xbaht's new cooperation with Ripple enables the firm to provide quick and affordable retail transfers through On-Demand Liquidity.
Ripple and its new clients will work together to make it simpler for individuals and companies in France and Sweden to conduct real-time transactions across countries using RippleNet.
The Partnership's Objectives
Sendi Young, Managing Director, Europe, Ripple, stated that Lemonway and Xbaht are the first ODL customers in France and Sweden, respectively. Since its founding ten years ago, Ripple has concentrated on leveraging blockchain and cryptocurrency to develop practical use cases. He further stated that the partnership wants to access global crypto liquidity to solve the conventional issues with cross-border payments, including slowness, unreliability, and high costs.
Ripple's On-Demand Liquidity permits payments in 25 payout areas, including Singapore, Malaysia, Poland, Indonesia, Thailand, and more. Lemonway and Xbaht join FINCI, FlashFX, FOMO Pay, iRemit, Novatti, Pyypl, SBI Remit, and other businesses in recognizing the advantages of ODL for their operations and clients.