Ripple Pushes XRP Adoption With The Latest Partnership
Ripple was recently in the spotlight when the company revealed new partners.
The company is working hard to expand its services and network, and not too long ago, they revealed new partners.
Also, it’s worth noting that CEO Alex Holmes said thas MoneyGram plans to launch XRP remittances in some more corridors and utilize RippleNet for account-to-account transfers.
Also, Ripple revealed that one of their main goals for 2020 is boosting the adoption of the digital asset XRP.
Ripple teamed up with Azimo
Ripple teams up with Azimo, which is a digital money transfer platform that’s headquartered in London in order to offer cross-border payments via XRP.
In an official press release, Azimo said that it had launched Ripple’s ODL which uses the coin to power remittances.
Azimo said that the service allows fast transactions, and it can also slash liquidity costs of cross-border payments by up to 60%.
Azimo uses ODL in the Philippines
According to Richard Ambrose, CEO of Azimo, the company is beginning its use of the liquidity solution in the Philippines.
”Ripple’s ODL solution has significantly reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits,” the CEO said.
He continued and explained that “As more banks and financial institutions use ODL, we believe it has the potential to replace current methods of foreign exchange trading and to reduce settlement time to close to zero.”
XRP in the crypto market
OLD is Ripple’s products, On-Demand Liquidity which was formerly known as xRapid – this product changed its name following a rebranding process.
ODL is powered by the digital asset XRP.
Speaking of the crypto, the coin is currently trading in the red just like the other important coins in the crypto market.
At the moment of writing this article, XRP is priced at $0.232510.
Despite the massive volatility, there have been various optimistic predictions for the digital assets these days.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.