It is surprising to witness a wide adoption of cryptocurrencies around the world despite the continuous bear market. As one of the strongest performers in the market, Ripple has new initiative plans to expand its On-Demand Liquidity (ODL). In order to spread its market, Ripple entered Europe partnering with prominent French and Swedish payment platforms.
Moreover, Ripple holds the pride to reveal its first and foremost ODL customers capturing the European markets. Through these partnerships, Ripple customers can explore secure and instant payment processes. This strategic move enhances the growth of Ripple in the booming crypto and blockchain industry.
In addition, this partnership helps the payment providers, France’s Lemonway and Swedish Xbaht to fix the gaps existing in their platforms.
Ripple to Explore Europe Regions
As the technology grows all major financial institutions are expecting to possess blockchain technology for their payments. Notably, 70% of financial firms in Europe believe that crypto and blockchain will have a great impact on the near future. Thus, observing the current expectations of the payment sectors, Ripple moved its coin in profitable regions.
To be more specific, the first partner is Lemonway is a Paris- based financial firm located in France. It is one of the major payment providers for online marketplaces. The result of this partnership with Ripple will activate the Ripplenet-linked ODL systems into the payment processors. Thereby it helps the users to utilize Ripple’s native token, XRP for low cost and speed crypto transactions.
Following the second Partner for Ripple to debut its ODL service is Swedish’s Xbaht – popular money transfer platform. One of the big assets of this platform is, it enables the customers to transfer the money from Sweden to Thailand in just a few minutes. Thus, Ripple’s ODL system enhances cost effective retail remittances for the platform.
Therefore, offering prominent benefits for both customers and payment providers, Ripple’s ODL service will expand its market presence even in more countries.
In regards with this partnerships with Lemonway and Xbaht, the Managing Director of Ripple, Sendi Young comments,
“To offer a real time and global crypto payment services, Ripple built partnerships with the two main payment providers. As a result, the existing gaps of traditional payments like low speed, high cost and unreliability will be eliminated.”
