- The cross-border solution from ripple has seen many banking institutions across the globe get fired up.
- In a new partnership with Azimo, the use of ripple’s on-demand liquidity will see the platform thrive.
The cross-border solution from the San Francisco-based company ripple, has seen many banking institutions across the globe get fired up. In a new partnership with Azimo (digital money transfer service), the use of ripple’s on-demand liquidity will see the platform thrive. Ripple has said the following:
“The company has launched with Ripple’s On-Demand Liquidity (ODL) service as part of its remittance capabilities into The Philippines, with plans to expand use of ODL across more corridors this year.”
The announcement of such a partnership came out earlier this week with Azimo already doing a test run in order to understand the potential of ODL. The CEO of the company, Richard Ambrose said that the service is fast and efficient in connecting them to the remittance market. He further added:
“We’ve been interested for a long time in the potential of digital assets like XRP to make cross-border payments better for customers. Ripple’s ODL solution has significantly reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits.”
The report mentioned whether Ripple is paying its partners to use its new services. The CEO said that Azimo is going to be paid by the San Francisco firm but the money is to offset the technology investments it must make for its infrastructure.
He further said:
“Ripple is like those blind men describing an elephant, who all describe it differently depending on where they stand… For some, it’s a speculative cryptocurrency, for some it’s an enterprise blockchain, and others it’s a financial messaging solution.”
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