FOMO Pay to Utilize Ripple’s On-Demand Liquidity

  • Ripple has announced a collaboration with FOMO pay.
  • The collaboration is part of the company’s strategy to expand its reach in Southeast Asia.
  • FOMO Pay’s treasury managers had to use other modes of payment in EUR and USD.

Ripple has announced a collaboration with Singapore-based major payments institution FOMO Pay to use Ripple’s crypto-enabled business technology to improve its cross-border treasury flows.

FOMO Pay is a Singapore-based payments institution that enables seamless cross-border treasury flows for its clients. It uses On-demand liquidity (ODL) to streamline these flows, improving efficiency and reducing costs. This partnership is a great example of how ODL can be used to improve traditional financial infrastructure.

Ripple is a blockchain technology company that enables banks and financial institutions to send money across borders quickly, easily, and cheaply. Ripple’s cryptocurrency, XRP, is the world’s third-largest market capitalization.

Ripple’s collaboration with FOMO Pay is part of the company’s strategy to expand its reach in Southeast Asia. In 2018, Ripple opened an office in Singapore to serve as a hub for its operations in the region.

Ripple’s ODL platform is helping to power FOMO Pay’s cross-border treasury flows and make them more efficient. This partnership is a great example of how Ripple is working with financial institutions to modernize payments and improve customer experience.

ODL is also helping FOMO Pay to comply with new regulations, such as the European Union’s (EU) PSD2 directive. By using ODL, FOMO Pay can authenticate its clients’ identities and transactions, which is required under PSD2.

By leveraging ODL for treasury payments, FOMO Pay is able to get 24/7, all-year-round access to liquidity for EUR and USD, thereby enabling same-day settlement globally. ODL for treasury payments makes it easy for PSPs like FOMO Pay to improve internal business cash flows, thereby allowing them to reduce business costs and improve operations.

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer