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Usha Yadav
Sep 21, 2022
by Usha Yadav

 Ripple Partners with I-Remit Philippines To Expand ODL Use

Ripple Partners with I-Remit

Table of contents

  1. I-Remit  Expanding Use of ODL
  2. I-Remit: A New Use Case for the ODL of Ripple
To improve its cross-border treasury flow, I-Remit, a non-bank supplier of remittance services with headquarters in the Philippines, has stated that it has increased its use of Ripple's On-Demand Liquidity (ODL) product. I-Remit, one of OLD's early users, has reportedly been using the payment system to send money across borders in real-time to the Philippines since 2018.

 

I-Remit  Expanding Use of ODL

I-Remit decided to increase its use of ODL after adopting Ripple's ODL in 2018 and seeing firsthand the potential of the payment solution to become one of the most well-known remittance destinations globally. To assist partners in accelerating their business performance and scaling across a worldwide network, RippleNet uses blockchain technology. It offers a superior end-user experience, streamlined network partnering, tools for managing liquidity, lines of credit, and cutting-edge technology to support real-time payments.

I-Remit joins a growing list of businesses reaping the rewards of ODL for their operations and clients, including FOMO Pay, Novatti, FlashFX, Tranglo, SBI Remit, Pyypl, and more.

I-Remit: A New Use Case for the ODL of Ripple

I-Remit will, this time, enhance its internal treasury administration to achieve optimum efficiency using the ODL solution. Notably, internal treasury payments under the traditional banking system confront the same difficulty as cross-border settlements. I-Remit may continue to access liquidity to satisfy its financial needs by using ODL for treasury payments, enabling settlements to occur on the same day. The notice also states that the money needed to establish destination accounts can be used to expand the business operations in its foreign affiliates.

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Ripple I-Remit Philippines
 Ripple Partners with I-Remit Philippines To Expand ODL Use
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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