Ripple Launches Money Transfer Service Between Lithuania And Mexico
The American fintech company Ripple announced a partnership agreement with the Lithuanian provider of international online money transfers FINCI.
As part of the cooperation, FINCI uses the On-Demand Liquidity (ODL) solution for transfers between Lithuania and Mexico, as well as business payments.
According to the fintech company, ODL allows real-time international transactions without the need for pre-funding.
Sandy Yang, managing director of Ripple in Europe, emphasized the strong demand for the firm’s products and announced further expansion of cooperation with financial firms in the region.
The company added that in 2021 the number of transactions in the RippleNet network doubled, and the volume reached $15 billion.
In March, National Australia Bank and Canadian Imperial Bank of Commerce began using the RippleNet system for international payments.
Earlier, Ripple launched a money transfer service between the Philippines and Japan.