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Source: Ripple
Ripple, the leader in enterprise blockchain and crypto solutions, has announced its first On-Demand Liquidity (ODL) customer in France as it joins forces with Lemonway, a Paris-based payment provider for online marketplaces.
The new partnership sees Lemonway using RippleNet’s ODL, which leverages XRP for crypto-enabled payments, to enhance its treasury payments processes.
Ripple’s new partnership with Lemonway comes at a time when France has been showing itself to be forward-thinking when it comes to embracing the potential of crypto technology. In partnering with Ripple, Lemonway is able to drive operational efficiencies by eliminating the need for Lemonway to pre-fund accounts abroad, giving them the opportunity to use previously trapped pre-funded capital to grow and scale their business.
Ripple has also announced a second new ODL customer, its first in Sweden. Swedish money transfer provider Xbaht enables money movement between Sweden and Thailand. Xbaht’s new partnership with Ripple sees the company offering instant and cost-effective retail remittances via ODL, supported by Tranglo, the cross-border payment hub based in Singapore. Together, Ripple and its new customers will make it easier than ever for consumers and businesses in France and Sweden to make real-time payments across borders powered by Ripple’s financial technology, RippleNet.
“We are delighted to be working with Lemonway and Xbaht, our first ODL customers in France and Sweden respectively. Since our inception ten years ago, Ripple has focused on using blockchain and crypto to build real use cases. This is why we have become the partner of choice for enterprises such as Lemonway and Xbaht looking to tap into global crypto liquidity to eliminate the traditional problems associated with cross-border payments such as lack of speed, unreliability and excessive cost,” said Sendi Young, Managing Director, Europe, Ripple.
Demand in Europe for Ripple’s products remains extremely strong. According to Ripple’s New Value research, 70% of respondents at financial institutions in Europe think blockchain will have a massive or significant impact on their business in the next five years, while 59% of respondents are interested in using blockchain for payments.
Financial Services
