- Joyalukkas Exchange’s GM Punnoose Mathew announced a partnership with Ripple.
- The collab will enable affordable cross-border payments, instant settlement, and continuous liquidity access with XRP’s On-Demand Liquidity.
- Wrathof Kahneman tweeted about other major common partners between both firms.
Ripple appears to have gained a new partner as Punnoose Mathew, managing director of Dubai-based Joyalukkas Exchange, reported on LinkedIn that he met with representatives from Ripple, “the market leader in enterprise blockchain and crypto solutions,” Mark Johnson, William Cooley, and Nick Taplin. Matthew penned,
It was a great discussion on how Ripple could be a great enabler for money transfer entities to scale up for affordable cross-border payments, instant settlement, and continuous liquidity access with their On-Demand Liquidity using the XRP platform. We are excited to collaborate with you.
Even though Ripple hasn’t yet made an official announcement about its new partner, Mathew’s language is rather transparent. He expressed that the business will employ the On-Demand Liquidity (ODL) XRP-based technology to streamline its cross-border payments with it.
The CEO of Ripple, Brad Garlinghouse, recently compared the regulatory progress made worldwide to the challenges the US market is currently experiencing. The MENA area (Middle East/North Africa) is one where crypto is considered a promising innovation and where the company has already been able to establish high-profile collaborations.
The Joyalukkas Group, a multi-billion dollar global business and a well-known name in the jewelry trading industry, includes Joyalukkas Exchange. One of the top regional suppliers of foreign exchange services is what the payment service provider aspires to be.
According to Joyalukkas Exchange’s website, they offer a wide variety of remittance alternatives to every customer and promise the best prices when it comes to cross-border transfers. The payment service provider has created a number of partnerships to facilitate “fast and easy transfers to any area of the world at the best prices” for this.
The US financial firm and Joyalukkas Exchange share certain current partners, as XRP community member Wrathof Kahneman tweeted.
The partners include prominent names such as Axis Bank, Federal Bank, State Bank of India, Canara Bank, Metrobank, and more.
Additionally, the price of XRP was $0.3945 at the time of publication, up 0.3% over the previous day and fluctuating between $0.3801 and $0.4052.
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