FOMO Pay has agreed to collaborate with the blockchain to execute inter-country payment services without border restrictions. The company’s ODL services will be used for efficient payment and transactions.
Ripple ODL allows international transfer and payment in different countries and continents. It makes it easier for businesses to be transacted without border or currency issues. Some of these countries within reach of Ripple ODL include; Indonesia, Thailand, Poland, Singapore,
Different firms already use Ripple services to make business transactions with different currencies across continents and countries. This firm includes; Pypl, Azimo, Novatti, Iremit, Tranglo, and others. This new partnership is coming after Ripple signed a partnership contract with Cross Tower.
FOMO Pay, A Rising Digital Payment Institution/Company
The inter-country payment company can be regarded as one of the best virtual investment and financial solution provider companies worldwide.
The growth of the banking and financial solution company has been astronomical since its invention in 2015. The solution provider company became one of the best financial solution-providing companies in Singapore and its environs.
It has joined the list of companies operating on the Ripple On-Demand-Liquidity services to cross bridges and facilitate transactions. FOMO Pay Chief Executive Officer stated that to expand its banking solution services across continents, the firm would be collaborating with Ripple.
“We plan to process and transact inter-country and continent payments and transactions for small-scale and medium sizes businesses in Euro and United Stated Dollars. Lui further stated that the financial institute users and clients could transact business internationally without currency barricades.
Currency barricades and other digital roadblocks will be cleared from their business paths. This will make the company soar higher in Singapore and globally
Rise In Ripple On-Demand-Liquidity Service in Asia
Ripple is one of the best intercountry payment and financial institutions. However, Ripple seems to be unique because it uses XRP. XRP is a cryptocurrency token representing value exchange across the Ripple blockchain network.
The Ripple network developed this digital/crypto asset to make payments. It works as mediation to make transactions between two fiat currencies. Its services have been in the market for a long time; however, it began to make waves in 2021.
The platform became known in 2021 and got into a collaboration program with companies across different countries. At the end of 2021, it has garnered an approximate 25% spike in its on-chain activities and progress.
The demand for inter-border payment companies in Asia has been rising for the past 12 months. Early last year, a 45% share was bought by Ripple, one of the biggest intercountry payment institutions in the region. Since the acquisition of the company named Tranglo, Ripple ODL has been progressing massively in the region.
The Ripple blockchain company is thrilled to develop inter-border transaction services for small and medium-sized businesses which may involve crypto. This step would allow more partnerships from companies like FOMO Pay, Tranglo and others. Ripple is making moves to solve all these payment problems and is ready to collaborate with financial institutions in the Asian region.