Ripple Partners With FOMO Pay To Facilitate Cross Border Treasury Payments

Ripple has continued to see adoption for its remittance technology from private institutions despite the ongoing lawsuit in the United States. Singapore-based institutional digital payment solution provider FOMO Pay has become the latest fintech firm to integrate Ripple’s liquidity solution called on-demand liquidity (ODL).FOMO Pay would use the popular crypto enterprise technology to improve its cross-border treasury settlements. Earlier, the firm used the traditional payment system for cross-border settlement of euro and United States dollar trades, which took up to two days. However,....

San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has joined the International Payments Framework Association (IFPA). The Association, whose members include the likes of ACH, NACHA and SWIFT, provides rule sets, best practices and guidance on how to improve cross-border payments. Nilesh Dusane, director of business development at Ripple Labs, said that the company was

Blockchain or distributed ledger technology (DLT) has yet to achieve widespread use, but it is mature enough to begin commercial use. Ripple, a DLT technology provider, believes the time is ripe for banks to work together to initiate a network for more efficient inter-bank and cross-border payments, according to a white paper [PDF] by Ripple and Accenture. The paper, titled, “The Journey to Real-Time Cross Border Commercial Payments using Distributed Ledger Technology,” noted that more than 600 alternative distributed networks have emerged since bitcoin began in 2009, including Ripple,....

Santander has begun using an app for international payments using Ripple Labs’ blockchain technology, according to Ripple on its Ripple Insights website. The pilot app makes Santander the first U.K. bank to use Ripple technology for cross-border payments. Santander is introducing the app as a staff pilot, with the intention to expand the technology. Once the app is downloaded, Santander staff just have to complete profile details to start to make payments. The app connects to Apple Pay, where users can securely confirm payments using Touch ID. It allows users transfer between £10 and....

Digital payment network Ripple has partnered with the Republic of Palau to develop its own digital currency. The payment network is still on a mission to dominate the global payments industry. That is, despite the issues it is dealing with in the U.S. Related Reading | SEC Takes Blow In Action Against Ripple, Will It Impact XRP Price? Like El Salvador, the country does not have its own fiat currency or even a Central Bank. Its legal tender, instead, is the U.S. dollar. The partnership with Ripple will focus on developing a USD-backed digital currency, more like a stablecoin rather....