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Crypto giant ripple cooperating with global payments company Tranglo Expanding Ripple’s On-Demand Liquidity (ODL) solution to the United Arab Emirates (UAE) just days after shaking hands with Latin American bank Travelex identical for Brazil.
Tranglo’s official Twitter account posted via tweet August 24, 2022. The UAE is the second largest economy in the Arabian Gulf region and has some of the largest senders and receivers in the world. With the help of Tranglo, Ripple hopes to handle the large-scale cross-border payment traffic in the region by promoting its ODL solution in the UAE.
Ripple’s ODL
rippling ODL Offers one of the cheapest and fastest cross-border payment solutions. ODL utilization Ripple Enables users to send funds globally. It is accessible 365/24/7 and does not require upfront funds to receive the market. ODL also allows users to reverse payments for free for up to five days. A fee may be charged for any deferral of repayment.
Five days before the Tranglo deal, on August 19, Ripple signed a new contract with mobile-first Latin American bank Travelex to do the same in Brazil. Under the partnership, Travelex will leverage Ripple’s ODL solution to enable instant cross-border payment settlement in Brazil at a very low cost.
In July, Ripple launched another partnership Partner with FOMO Pay, an important payment institution from Singapore. Like Tranglo and Travelex, FOMO pay will implement Ripple’s ODL solution to provide payment service providers and SMEs in the region with an affordable instant cross-border payment solution.
Expansion ripple
Ripple has been bullish on expansion since the end of 2021, while coldest So far, winter has not hindered Ripple’s efforts. In addition to spreading its ODL agreement at sea, Ripple has been signing various other deals and seeking to acquire other companies.
In November 2021, Ripple helps by deciding Republic of Palau establish its digital currency. Palau said it aimed to release the first government-backed dollar. The country will utilize Ripple’s technology without adopting XRP.
July 2022, ColombiaThe National Land Agency has announced the adoption of Ripple’s XRPL blockchain to digitize the land registry system. The new infrastructure has the capacity to allow more than 100,000 contracts to be registered, which could solve the country’s slow land registration problem.
Ripple has also opened up a new base Toronto June 2022. The new office aims to be a technology hub driving innovation in the crypto space. Upon launch, Ripple said the center will employ 50 developers and will expand over the next few years.
Early in the winter market, Ripple’s CEO Brad Garlinghouse revealed that Ripple may Obtain new company.A month later, on Aug. 10, a company spokesperson said Ripple was interested in crypto lenders Celsius See if it has anything to do with Ripple’s business. Celsius is one of the companies that cannot stand the winter market, archive Bankruptcy on July 14.
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