- Ripple continues to expand its “On-demand liquidity” services worldwide.
- In a recent collaboration, it expands ODL services to France and Sweden.
- Ripple made this possible with the partnership with Lemonway and Xbaht.
Ripple Labs, a crypto payments firm, has expanded into France and Sweden. This is made possible with its new partnerships with Lemonway and Xbaht.
As per the details of the new collaboration, Ripple signed an “on-demand liquidity” system with Paris-based payment provider Lemonway. The deal also expands to Sweden with a collaboration with Zbaht, a remittance payment provider between Thailand and Sweden.
Ripple stated that the annual international payments using the blockchain network have crossed $15 billion.
Ripple’s managing director for the UK and Europe, Sendi Young stated:
It’s not pleasant to see other companies in a tough situation in this market environment, but we do find ourselves growing fast and also we are well funded.” “We are opportunistically looking at some strategic investment opportunities.
While the crypto bear market has put several crypto firms in their worst shape, Ripple seems sturdy with its finances. The company also plans to hire 300+ staff this year and is eyeing the assets of the bankrupt crypto lender Celsius. The ongoing lawsuit with the SEC hasn’t hampered its expansion plans.
Crypto platforms have been focusing on expanding to the European regions, especially France. With Ripple expanding its ODL system across borders, it eases the remittance and movement of funds from one country to another.
Young also said that he believes in a future where cryptocurrencies will be commonly used, including CBDCs, stablecoins, and others. Young also stated that he believes that there will be different use cases for all of these different assets in the future.
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