Sweden’s Stockholm-headquartered investment firm has partnered with Ripple to provide on-demand liquidity for its institutional investors. This means that the investment firm will instantly convert XRP into Swedish kron a and back again, allowing its investors to buy and sell XRP without waiting for a settlement.
According to Ripple’s 2022 New Value Report, 70% of respondents from European financial institutions believed that blockchain, the underlying technology that underpins Ripple’s cryptocurrency solutions, would have a major or significant impact on their industry over the following five years.
But thanks to Ripple’s two most recent agreements, businesses in Sweden and France are adopting crypto solutions immediately rather than waiting until the next five years.
Lemonway, a pan-European payment company in Paris, has worked with Ripple since 2020 to streamline cross-border payments and reduce payout times for their consumers.
Lemonway is now utilizing Ripple’s On-Demand Liquidity (ODL) service to improve its internal treasury management, further solidifying its position as the industry leader in payments.
Lemonway, the first French online marketplace payment provider to use ODL, claims that they can increase operational efficiency by doing away with the requirement to pre-fund destination accounts abroad. This allows them to use otherwise imprisoned funds to grow their business and enter new markets.
Additionally, Ripple has collaborated with Swedish money transfer service Xbaht to offer quick, inexpensive retail transactions.
By utilizing blockchain technology and crypto 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 lengthy settlement times, a 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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Source: Cryptocurrency - investing.com
