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With Ripple’s ODL, FOMO Pay may now provide instantaneous and more efficient payment services to its users around the globe.
Singapore-based institutional payments firm FOMO Pay has inked a partnership deal with blockchain firm Ripple. According to an announcement on the official Twitter page of Ripple, FOMO Pay will use the on-demand liquidity (ODL) tech of Ripple, to solve its inadequacies as regards processing international payments.
FOMO Pay to Begin Instant Payment Settlements
With Ripple’s ODL, FOMO Pay may now provide instantaneous and more efficient payment services to its users around the globe. And speaking about the new partnership, FOMO Pay CEO and founder Louis Liu expressed his excitement at the prospects of what it could mean for his firm. Liu also seized the opportunity to restate that FOMO Pay is highly invested in delivering top-notch and low fees payment services to its users. In part, the announcement read:
“FOMO Pay will get all-year access to liquidity for USD and EUR by leveraging ODL for treasury payments. Thus, making instant settlements possible to any part of the world.”
Ripple’s Payment Solution Goes Global
FOMO is the latest in a long list of crypto-based firms Ripple’s ODL tech to bolster their payments services. Before now, companies like Azimo, FlashFx, Pyypl, Tranglo, Novatti, and a few others have also integrated its services. But most notably amongst those integrations is that of Tranglo in March 2021. This is because Tranglo remains one of the largest international payment firms in the whole of Asia.
Meanwhile, although Ripple is keen on expanding significantly on the global scene, there’s a notable rise in demand for its ODL tech in the Asia-Pacific (APAC) region. This is because fast-tracked international payments is an established issue in the region. So, while keeping an eye on its legal tussle with the US SEC, Ripple is not deterred from its global expansion plans.
Away from its ODL technology, Ripple’s native token (XRP) is also enjoying global acceptance and rising in popularity. Recently, a Tokyo-based platform CryptoBar announced it would start accepting XRP payments. And in addition to this, the high minting rate of XRP and the inclusion of NFTs on the XRP ledger have all contributed to its popularity.