Last Updated on May 19, 2022 by Bitfinsider
A press release was issued to announce the deal. RippleNet’s On-Demand Liquidity (ODL) services, which use XRP to facilitate cross-border crypto payments, will be provided as part of the cooperation. Ripple has been a leader in enterprise blockchain and crypto solutions. This will allow for cost-effective and quick retail remittances and B2B payments.
The cooperation marks Ripple’s first customer in Lithuania, as well as the start of a new market for the RippleNet ODL.
FINCI, a Vilnius, Lithuania-based online international money transfer company, will soon be able to allow its customers to make smooth payments between Europe and Mexico without the requirement for pre-funded accounts.
Cross-border payments provide a significant problem for payment service providers (PSPs), particularly those who serve SMBs (SMEs). These enterprises are required to place money into prefunded accounts, resulting in a major portion of their capital being trapped. Smaller businesses can use On-Demand Liquidity services like RippleNet to withdraw capital from these pre-funded accounts and reinvest it in growing their firm. Remittance senders will also benefit from a faster, more reliable, and low-cost alternative to older payment methods as a result of the agreement.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.