Ripple Chooses France & Sweden As The Next Location To Expand Its ODL System

Over the past few months, crypto platforms have been eyeing several European regions. And Ripple with the steady growth of the payment system now, in an effort to boost its ODL business and presence in Europe, the network has decided to partner with two major platforms in France and Sweden.

Today, Ripple a leader in enterprise blockchain and crypto-currency solutions, announced its first On-Demand Liquidity (ODL) customer in France as it joins forces with Lemonway, a developer Paris-based payment service provider for online marketplaces. France has been a prominent choice for a number of exchanges but France is not the only place where it is launching with its ODL service. This network has spread to Sweden with Xbaht, a well-known Swedish money transfer service provider and the platform is involved in the movement of funds between Sweden and Thailand.

Managing Director, Europe, Ripple said “It has targeted on utilizing blockchain and crypto to construct actual use circumstances. This is the reason we’ve got grow to be the accomplice of selection for enterprises equivalent to Lemonway and Xbaht trying to faucet into international crypto liquidity to remove the normal issues related to cross-border funds equivalent to lack of pace, unreliability, and extreme price.”

Ripple and its new customers will make it easier than ever for consumers and businesses in France and Sweden to make real-time payments across borders powered by Ripple’s financial technology, RippleNet.

According to Ripple’s New Value research, 70% of respondents at financial institutions in Europe think blockchain will have a massive or significant impact on their business in the next five years, , while 59% of respondents are interested in using blockchain for payments.

It’s ODL currently enables payments in 25 payment markets including Singapore, Malaysia, Poland, Indonesia, Thailand and more. Lemonway and Xbaht join companies including FINCI, FlashFX,FOMO Pay, iRemit, Novatti,Pyypl, SBI Remit and more who are realizing the benefits of ODL for their businesses and customers.

RippleNet’s annual payment volume run has now exceeded $15 billion. As of the second quarter of 2022, ODL has grown more than 9 times compared to the same period last year.

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