Ripple Partnering With FOMO Pay To Improve Funds

Blockchain company Ripple has signed a partnership with FOMO Pay, one of the leading payment institutions in Singapore.

Agreement to help Ripple improve its cross-border funding

Blockchain company Ripple has inked a partnership with FOMO Pay, according to a Monday announcement.

The deal will make it possible for FOMO Pay to improve its treasury payments by leveraging Ripple’s On-Demand Liquidity (ODL) technology and gaining constant access to liquidity for the euro and the U.S. dollar.

Prior to partnering with Ripple, the company had to use inefficient modes of payments where funds would take up to several days to reach destination accounts. According to FOMO Pay CEO Louis Liu, the company will now be able to conduct affordable and nearly instantaneous settlements.

Brooks Entwistle, SVP and Managing Director at Ripple, claims that the Asia-Pacific region is full of opportunities to solve issues related to inefficient payment mechanisms.

FOMO Pay was founded back in 2015 as a one-stop payment aggregator for enterprises and merchants spanning the e-commerce, telecom, retail, tourism industries. Last year, the company secured additional licenses from the Monetary Authority of Singapore (MAS) in order to expand the list of its regulated activities. FOMO Pay gained the ability to facilitate transactions with digital payment tokens, including central bank digital currencies (CBDCs).

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

Coincu News