- Ripple has partnered with French & Swedish payment providers.
- The ODL system leverages the XRP currency for quick and inexpensive crypto-based transactions.
- RippleNet has handled billions of dollars worth of transactions.
As it teams up with Lemonway, a Paris-based payment provider for online marketplaces, and Xbaht a Sweden-based money transfer platform, Ripple, the industry leader in corporate blockchain and cryptocurrency solutions, today announced its first On-Demand Liquidity (ODL) customer in France and Sweden.
For online markets, Lemonway provides payment services. The ODL system, which leverages the XRP currency for quick and inexpensive crypto-based transactions, will now be implemented by the payment platform and connected to the Ripplenet network.
Sebastien Burlet launched Lemonway in 2007, and in 2012 the company received an ACPR Payment Institution license as well as a European passport. It maintains offices in Hamburg, Hamburg, London, Madrid, Milan, and Paris.
CB Insights “ranked Lemonway among the 28 most promising FinTech businesses in Payments Processing & Networks globally and in its 250 FinTech List of the Fastest-Growing FinTech Startups.
Blockchain technology is used by RippleNet to support partners across a worldwide network in accelerating and scaling their businesses. It offers an improved end-user experience, streamlined network partnerships, tools for managing liquidity, lines of credit, and cutting-edge technology to support real-time payments.
RippleNet offers an instantaneous settlement, a failure rate that is almost nil, the capacity to transfer payments any time of the day or night, and rates that are 90% cheaper per transaction than the industry standard. Since becoming online, RippleNet has handled billions of dollars worth of transactions.
With 25 payout markets now supported by Ripple’s ODL, including Singapore, Malaysia, Poland, Indonesia, Thailand, and more, payments may be made. Lemonway and Xbaht join FINCI, FlashFX, FOMO Pay, iRemit, Novatti, Pyypl, SBI Remit, and other businesses in recognizing the advantages of ODL for their operations and clients.
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