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Blockchain & Crypto

Ripple rolls out On-Demand Liquidity service in Japan

Jul 30, 2021

The launch of faster and cheaper remittances starting in the Philippines is coming

Ripple

Ripple rolls out On-Demand Liquidity service in Japan. Source: shutterstock.com

Ripple has announced the launch of RippleNet’s first live On-Demand Liquidity service implementation in Japan in collaboration with SBI Remit. That’s the largest money transfer provider in Japan, and one of the leading mobile wallet services in the Philippines.

According to the press release, this expanded partnership will see SBI Remit connect with Coins.ph and digital asset exchange platform SBI VC Trade on RippleNet for faster and more affordable cross-border payments from Japan to the Philippines.

With ODL now available in Japan, RippleNet customers can leverage XRP to eliminate pre-funding and reduce operational costs, unlocking capital and fuel the expansion of their payments businesses.

The expansion of our relationship with SBI Remit to kickstart RippleNet’s ODL service in Japan marks a major milestone in one of our largest markets. SBI Remit has been a leader when it comes to embracing new technology to deliver the best customer experience. We are excited to partner with forward-looking companies like SBI that see the value in blockchain technology and to support them in preparing for a crypto-enabled future
Asheesh Birla, General Manager of RippleNet at Ripple

In this next phase of the partnership, SBI Remit will connect with other established partners on RippleNet and utilize XRP to accelerate their high-performance payments business.

We’ve reported that PayU partners with Visa to enable push payments for businesses in Europe.

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