Ripple has managed to experience a bit of a resurgence as of late, as not only has the price value of its native digital currency XRP increased to $1.02 as of the time of this writing, which is an approximate 4% increase within the last 24 hours, but it has also become the 4th biggest cryptocurrency right now in terms of market capitalization.
Few could have seen this coming, especially since the lawsuit filed by the United States Securities and Exchange Commission (SEC) which is still ongoing. However, Ripple has preserved and is steadily making a recovery, granting some much-needed relief to XRP holders and investors.
Most recently, Ripple has now established a partnership with Novatti, and it has gone live, much to the delight of customers.
Novatti joins forces with Ripple to send instantaneous transactions
Upon the launch of the successful partnership between Ripple and the Australia-based payments company, Novatti’s customers now have the option to send transactions to the Philippines instantly. The company predicts that nearly a few thousand transfers will take place on a monthly basis.
Additionally, to make this process a bit smoother and more efficient, Novatti has also partnered up with iRemit, a local service provider for remittances. iRemit had also been one of the very first providers to adopt Ripple’s ODL (On-Demand Liquidity) solution.
Plans to expand even further
Ripple has certainly not shied away from expanding its influence and connections, as had been proven by the recent 40% stake in Tranglo, which is a cross-border payment system based in Kuala Lumpur, Malaysia.
Now, Ripple can add Novatti to its list as it had also announced that this was only ‘the initial manifestation’ of the aforementioned partnership that had been first announced towards the end of 2020 in early December. Novatti itself has plans to expand in Southeast Asia, too, so perhaps there can be a path to Tranglo or some other company in Malaysia through Ripple, but only time will tell if this is to be the case.
Nevertheless, expansion options for Novatti do open up the possibility of new streams of revenue for the company as well as providing increased exposure for its digital payment systems, which it hopes can be accelerated in the near future.
Novatti had also made deals with other major companies like Samsung Pay, Apple Pay, and Alipay. In other related news, a Visa license for the purpose of issuing prepaid cards within New Zealand had also been obtained by the company.