- Ripple has made a new collaboration with international money express (Intermex).
- This company is a remittance firm that is highly focused on the Latin America/Caribbean corridor.
As it tends to do in swift fashion, the San Francisco-based tech firm Ripple has recently made a collaboration with the international money express (Intermex). This company is a remittance firm that is highly focused on the Latin America/Caribbean corridor.
This new collaboration between the two companies will make use of the On-Demand Liquidity (ODL) from San Francisco firm - denoting that the remittance service provider will also be making also be leveraging the cross-border payments system thanks to XRP.
In the new update, Intermex has said that it has been given the opportunity to use the liquidity service from Ripple through the usage of RippleNet.
The On-Demand Liquidity from Ribble makes use of XRP to help achieve almost instant currency transfers all over the world. The new service completely removes all the problems of pre-funding in cross-border remittance services by serving as a bridge (corridor) for sending and receiving different currencies.
The update also goes on to say that the use of ODL was made given the fact that XRP remains the efficient and widely used digital asset for settlements. Furthermore, there is the fact that token transactions will be settled at less than a penny.
The Miami based firm is going to reach around 17 countries in Latin America and the Caribbean. This will allow clients to transfer funds from the United States to these countries without all the hurdles and obstacles in the way.
The CEO of Intermex, Bob Lisy has said the following on the collaboration between the two companies:
“We are pleased to have begun the partnership with the Ripple team, and look forward to implementing new solutions on RippleNet and ODL to help drive growth and deliver greater efficiency.”