Ripple Introduces On-Demand Liquidity to France and Sweden By CoinEdition

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Ripple introduces on-demand liquidity in France and Sweden
  • Companies in Sweden and France are immediately implementing crypto solutions.
  • A partnership between and the Swedish money transfer company Xbaht has been made public.
  • Consumers and businesses in Sweden and France can use Ripple to transfer real-time payments across borders.

The Stockholm-based Swedish investment firm has partnered with Ripple to provide on-demand liquidity to its institutional investors. This means that the investment firm will instantly convert XRP to Swedish Krona and vice versa, allowing its investors to buy and sell XRP without waiting for settlement.

According to Ripple’s New Value 2022 report, 70% of respondents from European financial institutions believed that blockchain, the underlying technology that powers Ripple’s cryptocurrency solutions, would have a major or significant impact on their industry in the future. over the next five years.

But thanks to Ripple’s two most recent deals, Swedish and French companies are immediately adopting crypto solutions rather than waiting for the next five years.

Lemonway, a pan-European payment company in Paris, has been working with Ripple since 2020 to streamline cross-border payments and reduce payment times for their consumers.

Lemonway is now using Ripple’s On-Demand Liquidity (ODL) service to improve its internal cash management, further strengthening its leadership position in the payments industry.

Lemonway, the first French online marketplace payment provider to use ODL, says it can increase operational efficiency by removing the requirement to pre-fund overseas destination accounts. This allows them to use otherwise trapped funds to expand their business and enter new markets.

Additionally, Ripple has collaborated with Swedish money transfer service Xbaht to offer fast and inexpensive retail transactions.

By using blockchain technology and cryptography to create practical use cases, Ripple has established itself as the go-to partner for businesses looking to access global crypto liquidity.

This eliminates the traditional frictions associated with cross-border payments, such as long settlement times, lack of transparency and high fees.

Through these partnerships, customers and businesses in Sweden and France can send real-time payments across borders using Ripple.

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