Blockchain company Ripple is launching its product, On-Demand Liquidity (ODL), which initially allows for fast and cheap money transfers between Brazil and Mexico.
Ripple August 18 announced on its official website on Travelex Bank’s customers’ cross-border transfers develop with Ripple for partnership established was announced. Travelex initially only offered ODL. Brazil and Mexico He stated that he would use the system in his shipments between the USA and Asia .
Travelex General Manager Silvio Pegadoper year to Brazil 780 billion More than $$ was sent, therefore Ripple’s cheap and fast states that it is a suitable market for customers who will benefit from cross-border payment capability.
In the announcement, Ripple’s payment system and Travelex’s international payments are made to correspondent banks. will not need is stated. In this way, Travelex offers its customers 24/7/365 will be able to provide payment and transfer services.
Brad Garlinghouse, CEO of Ripple in a statement, Brazil’s expansion in Latin America a strategically important point declared that. It also promotes Brazil’s crypto and fintech innovations. open to initiatives He stated that it is a very important center for Ripple because of its location.