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As Seventy percent of Financial organizations and Fifty-nine percent of users in European countries are now interested in making payments in cryptocurrency, Ripple has formed a collaboration with Lemonway and Xbaht to utilize its ODL (On Demand Liquidity) solution to provide cryptocurrency payment to users in European countries such as France and Sweden. The ripple On-Demand Liquidity supports very fast international payments with no use of any pre-funded accounts, plus, this will be done at a pocket-friendly cost
A ripple news release yesterday (October 11) revealed that the collaboration will do away with the need for Lemonway and Xbaht to fund their account before conducting international transactions. This new system will assist in solving international payments issues as it concerns about speed, reliability, and high transaction fees.
Ripple Payment Giant Steps
From the start, Ripple has designed payment structures that are geared towards providing less expensive and speedy international payments.
At this point, this Ripple ODL is currently accessible in twenty-five markets such as Singapore, Poland Thailand, and Malaysia. In August this year, Ripple joined forces with two payment providers (Traveled and Tranglo) which will provide their On-Demand Liquidity solution in Brazil and UAE (United Arab Emirates).
Also, Ripple possesses a private Ripple ledger optimizer for installing central bank electronic currencies (CBDC). During last year (2021) Ripple worked with the Palau Republic to design its government-supported USD CBDC. As of this month (October 2022) XRP in collaboration with three more participants of the electronic Dollar projects. Also, they will delve into the chances of designing an electronic USD that will be used for international payments.
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