Ripple Extends Its Services To EU Heavyweights France and Sweden
The world has seen the rise of crypto solutions, but we didn’t know the next steps of Ripple amidst its lawsuit with the SEC ongoing. The top blockchain firm — Ripple, has expanded its on-demand liquidity services to Sweden and France.
The blockchain firm has become the favorite for enterprises looking to adopt cryptocurrency liquidity worldwide. As seen from Ripple’s 2022 New Value report, 70% of the survey respondents among top Europe banking firms forecast that blockchain solutions will play a significant role in businesses for the next five years.
Enterprises in both Sweden and France have started embracing crypto and its solution. At the same time, Ripple partnered with two companies in Sweden and France.
Ripple’s Partnership With Lemonway And Xbaht
One of the partners Ripple has from Europe is Lemonway. Ripple has partnered with Lemonway for two years. Lemonway is a pan-European payment solution firm headquartered in France. It uses Ripple’s crypto solutions to centralize cross-border payments and decrease payout time for users.
Recently, Lemonway adopted the on-demand liquidity (ODL) solution by Ripple to improve the efficiency of its internal treasury management. As a result, Lemonway doesn’t need to prefund destination accounts overseas, making its management more efficient.
Therefore, it helps the company to become a world leader in providing payment solutions to users amongst its competitors. While Lemonway adopts Ripple, it benefits not only Lemonway but also Ripple.
As a result of Lemonway’s adoption of ODL, Ripple becomes the first payment provider in France among online market platforms to use Ripple’s technology.
Not only did Ripple collaborate with Lemonway but also Xbaht in Sweden. Xbaht is a Sweden-based money transfer provider that teamed up with Ripple to achieve an affordable and instant retail remittance.
Thanks to Ripple’s ODL, Xbaht, and many other companies can move their funds globally within seconds and at an even cheaper cost when compared to traditional payment.
Ripple’s blockchain and crypto solutions for real-world problems make it the choice amongst enterprises looking to explore global crypto liquidity. In addition, enterprises prefer Ripple because it helps them solve the cross-country payment issue.
However, these enterprises’ problems are endless, including high costs, slow settlement times, and a lack of transparency. Meanwhile, major crypto wallets have been accumulating more XRP lately.
For example, a WhaleAlert report showed that crypto whales have recently added more than 105 million XRP tokens to their wallet. This event may be due to Ripple’s upper hand in the recent lawsuit against US SEC.
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