• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

FOMO Pay taps Ripple’s liquidity solution for treasury management

Jon Hartney by Jon Hartney
July 26, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Ripple has continued to see adoption for its remittance technology from private institutions despite the ongoing lawsuit in the U.S.

Singapore-based institutional digital payment solution provider FOMO Pay has become the latest fintech firm to integrate Ripple’s liquidity solution called on-demand liquidity (ODL).

FOMO Pay would use the popular crypto enterprise technology to improve its cross-border treasury settlements. Earlier, the firm used the traditional payment system for cross-border settlement of EUR and USD trades, which took up to two days. However, with ODL integration, the firm aims to achieve an instant settlement with very low transaction costs.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Louis Liu, Founder and CEO of FOMO Pay said:

“We are excited to partner with Ripple to leverage On-Demand Liquidity for treasury management, which allows us to achieve affordable and instant settlement in EUR and USD globally.”

Ripple’s ODL service has gained a lot of popularity in the private banking and payment sector. The enterprise solution uses XRP as a bridge between two currencies, eliminating pre-funding of destination accounts and reducing operational costs. The tech has proven a great success in Asia, where cross-border transactions are among the highest.

Ripple didn’t respond to requests for comments from Cointelegraph at the time of publishing.

Ripple aims to make headway in the treasury settlement market that sees over $3.5 billion in annual expenditure to manage liquidity crises. With ODL, liquidity is always available in the form of XRP.

Related: After 8 years dumping billions of XRP, Jed McCaleb’s stack runs out in weeks

Japan’s SBI Remi integrated the ODL solution to transfer money from Japan to the Philippines last year. Some other major firms that have integrated Ripple ODL services include Pyypl, Novatti, Tranglo, iRemit, FlashFX and Azimo.

Ripple’s payment technology has been key to its success despite the long-running lawsuit in the U.S over the unregistered sale of XRP. In the latest development of the case, the U.S. Securities and Exchange Commission (SEC) attempted to block Ripple (XRP) holders from aiding in Ripple’s defense and prohibit attorney John E. Deaton from any further participation in proceedings.

The SEC claims #XRP itself is a security and anyone who sells it is violating Section 5 of the Securities Act. The SEC claims @Ripple @bgarlinghouse & @chrislarsensf “enriched” themselves at the expense of investors and it is seeking $1.3B in disgorgement from these defendants. https://t.co/9nJ1iNroth

— John E Deaton (208K Followers Beware Imposters) (@JohnEDeaton1) July 18, 2022

The key executives of Ripple, including CEO Brad Garlighouse, have maintained that they are confident of a positive outcome of the lawsuit. However, the blockchain firm has seen a great demand and adoption for its crypto-based cross-border remittance and liquidity solution. 

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Bitcoin price rises above $19.6K as US dollar strength falls to 3-week lows

October 25, 2022

Why are Bitcoin whales accumulating BTC? Watch The Market Report

October 25, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$43,960.000.46%
  • ethereumEthereum(ETH)$2,265.25-0.80%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.07%
  • binancecoinBNB(BNB)$232.920.41%
  • rippleXRP(XRP)$0.642.98%
  • SolanaSolana(SOL)$63.56-0.98%
  • usd-coinUSDC(USDC)$1.00-0.03%
  • Lido Staked EtherLido Staked Ether(STETH)$2,263.41-0.66%
  • cardanoCardano(ADA)$0.4492945.49%
  • dogecoinDogecoin(DOGE)$0.097187-0.63%
  • AvalancheAvalanche(AVAX)$26.550.43%
  • tronTRON(TRX)$0.1054661.79%
  • chainlinkChainlink(LINK)$15.68-0.79%
  • polkadotPolkadot(DOT)$6.143.44%
  • ToncoinToncoin(TON)$2.29-4.59%
  • matic-networkPolygon(MATIC)$0.842.13%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$43,927.000.56%
  • Shiba InuShiba Inu(SHIB)$0.0000102.20%
  • Wrapped stETHWrapped stETH(WSTETH)$1,864.880.38%
  • litecoinLitecoin(LTC)$74.080.55%
  • daiDai(DAI)$1.00-0.21%
  • bitcoin-cashBitcoin Cash(BCH)$247.83-0.16%
  • UniswapUniswap(UNI)$6.11-1.20%
  • leo-tokenLEO Token(LEO)$3.811.70%
  • stellarStellar(XLM)$0.1259282.55%
  • OKBOKB(OKB)$58.110.70%
  • ethereum-classicEthereum Classic(ETC)$22.069.05%
  • moneroMonero(XMR)$173.930.56%
  • KaspaKaspa(KAS)$0.138941-0.13%
  • cosmosCosmos Hub(ATOM)$9.89-0.58%
  • true-usdTrueUSD(TUSD)$1.00-0.10%
  • CronosCronos(CRO)$0.094347-2.01%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • filecoinFilecoin(FIL)$5.045.79%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.351.26%
  • HederaHedera(HBAR)$0.068045-1.23%
  • Internet ComputerInternet Computer(ICP)$4.99-4.61%
  • AptosAptos(APT)$7.64-0.30%
  • Lido DAOLido DAO(LDO)$2.30-2.50%
  • MantleMantle(MNT)$0.637.46%
  • THORChainTHORChain(RUNE)$6.48-5.51%
  • BittensorBittensor(TAO)$332.87-6.12%
  • ImmutableImmutable(IMX)$1.440.34%
  • vechainVeChain(VET)$0.0252492.52%
  • QuantQuant(QNT)$111.432.05%
  • OptimismOptimism(OP)$1.76-1.58%
  • BUSDBUSD(BUSD)$1.00-0.25%
  • The GraphThe Graph(GRT)$0.1620082.89%
  • StacksStacks(STX)$1.04-9.13%
  • InjectiveInjective(INJ)$17.372.30%
  • CelestiaCelestia(TIA)$9.94-10.39%
  • AaveAave(AAVE)$98.320.35%
  • ArbitrumArbitrum(ARB)$1.090.15%
  • RenderRender(RNDR)$3.69-3.12%
  • Rocket Pool ETHRocket Pool ETH(RETH)$2,476.76-0.78%
  • makerMaker(MKR)$1,452.93-2.61%
  • GGTKNGGTKN(GGTKN)$0.1161257.38%
  • MultiversXMultiversX(EGLD)$49.28-0.95%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000221-2.76%
  • algorandAlgorand(ALGO)$0.1593872.81%
  • havvenSynthetix Network(SNX)$3.86-0.09%
  • ORDIORDI(ORDI)$56.29-6.95%
  • FlowFlow(FLOW)$0.78-1.11%
  • WEMIXWEMIX(WEMIX)$3.2420.25%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.12%
  • theta-tokenTheta Network(THETA)$1.07-5.40%
  • bitcoin-cash-svBitcoin SV(BSV)$52.391.16%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • FantomFantom(FTM)$0.3405290.45%
  • The SandboxThe Sandbox(SAND)$0.453337-0.02%
  • Axie InfinityAxie Infinity(AXS)$7.10-1.81%
  • kucoin-sharesKuCoin(KCS)$9.35-3.08%
  • iotaIOTA(IOTA)$0.297806-5.01%
  • decentralandDecentraland(MANA)$0.4814470.99%
  • BitTorrentBitTorrent(BTT)$0.00000180.95%
  • eosEOS(EOS)$0.763.81%
  • neoNEO(NEO)$12.05-0.37%
  • GALAGALA(GALA)$0.029136-3.76%
  • BitDAOBitDAO(BIT)$0.592.96%
  • KavaKava(KAVA)$0.830.65%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$5.671.66%
  • tezosTezos(XTZ)$0.912.45%
  • HeliumHelium(HNT)$5.3416.68%
  • Mina ProtocolMina Protocol(MINA)$0.73-3.76%
  • BeamBeam(BEAM)$0.01601414.40%
  • KlaytnKlaytn(KLAY)$0.2224774.80%
  • Bitget TokenBitget Token(BGB)$0.51-0.96%
  • USDDUSDD(USDD)$0.99-0.01%
  • XDC NetworkXDC Network(XDC)$0.051286-0.42%
  • ConfluxConflux(CFX)$0.196336-4.16%
  • Frax EtherFrax Ether(FRXETH)$2,245.53-1.04%
  • eCasheCash(XEC)$0.00003410.20%
  • FraxFrax(FRAX)$1.000.11%
  • Tokenize XchangeTokenize Xchange(TKX)$8.32-2.42%
  • CheeleeCheelee(CHEEL)$12.33-0.37%
  • Frax ShareFrax Share(FXS)$8.752.88%
  • SuiSui(SUI)$0.63-1.70%
  • Pyth NetworkPyth Network(PYTH)$0.433401-11.79%
  • ChilizChiliz(CHZ)$0.0844992.08%