Ripple announced the launch of its On-Demand Liquidity (ODL) treasury solution in France and Sweden. The partners are Lemonway and Xbaht payment services.
Lemonway, a Paris-based payment service, has begun using RippleNet’s ODL to improve the efficiency of operations in financial markets using XRP coins. This will eliminate the need for Lemonway to prepay invoices overseas, allowing it to use its locked-in pre-funded capital to scale its business.
The French government is showing its foresight when it comes to using the latest technology and cryptocurrencies, Ripple management explains. Back in April, Pierre Person, a French parliamentarian from Paris, said that France could become the European center for cryptocurrencies.
The second partner was the Xbaht service, which makes money transfers between Sweden and Thailand. As part of a new partnership with Ripple, Xbaht will provide instant and cost-effective retail money transfers via ODL, powered by Singapore’s Tranglo payment center.
“We are delighted to be working with Lemonway and Xbaht, our first ODL customers in France and Sweden. Since the inception of Ripple ten years ago, we have focused on using blockchain and cryptocurrencies to create real use cases. That’s why Lemonway and Xbaht have chosen us as their partner. They seek to use cryptocurrency liquidity to eliminate the traditional problems that arise with cross-border payments: slow speed, insecurity and high fees, ”said Sendi Young, managing director of Ripple Europe.
In August, Ripple launched an ODL solution in Brazil for fast international payments in cooperation with Travelex Bank. In the same month, Tranglo opened the Ripple ODL payment corridor for customers in the UAE.
Source: Bits
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