Advertisement

Ripple

Ripple Launches First On-Demand Liquidity Service in Japan

  • SBI Remit has partnered with Coins.ph to facilitate remittance payments from Japan to the Philippines using Ripple.
  • Ripple's ODL service will enable the companies to provide faster and more affordable remittance options.

Ripple Proposes Federated Sidechains Upgrade

  • Through the use of "federated sidechains", Ripple will finally be able to expand the functionality of the XRP ecosystem, while keeping it focused on payments.
  • This option offers a number of advantages, such as its low-risk approach, capacity for horizontal scaling, and simple support.

BankDhofar, RippleNet Launch Mobile Banking Payments From Oman to India

  • BankDhofar will use RippleNet to connect with IndusInd Bank in India.
  • Customers will be able to send up to $2,600 instantly to deposit accounts in India.

National Bank of Egypt Joins RippleNet to Offer UAE-Egypt Remittances

  • Egypt is one of the top five remittance recipients globally, receiving $24 billion in 2020 from the Gulf states alone.
  • NBE's partnership with RippleNet and LuLu will improve the overall efficiency of the Egypt-UAE remittance corridor.

Ripple Acquires 40% Stake in Asian Cross-Border Payments Solution Tranglo

  • Malaysia-based Tranglo has processed over 20 million transactions totaling $4 billion in value.
  • The acquisition will enable Ripple to meet growing demand in Southeast Asia.

Ripple, MoneyGram End Years-Long Partnership

  • Officially announced in June 2019, the partnership between the two firms has "processed billions of dollars through RippleNet and On-Demand Liquidity".
  • The fallout between the two firms did not come as a surprise, with MoneyGram having suspended its agreement with Ripple back in February.

SEC Lawsuit Has Not Affected Ripple’s Business in Asia

  • While exchanges in the U.S. have decided to delist XRP, Ripple's business in the Asia Pacific region continues to grow, thanks to "regulatory clarity".
  • The firm has already moved to file a motion to dismiss the SEC lawsuit, arguing that FinCEN had previously classified XRP as a virtual currency.

Ripple to Enter CBDC Race With Private Version of XRP Ledger

  • The firm has stated that transactions through its CBDC Private Ledger will be "cost-effective, reliable, and close to instantaneous".
  • Ripple further claimed central banks will have complete sovereignty and ability to customize their CBDC through its private ledger.

LuLu Exchange, Federal Bank, Ripple Partner to Offer UAE-India Remittances

  • UAE-based LuLu Exchange and Indian Federal Bank will establish a remittance corridor between the two countries.
  • The corridor will use RippleNet Cloud to make cross-border payments faster, cheaper, and more reliable.

SBI Launches XRP Lending Services

  • The 0.1% interest rate of XRP lending is significantly lower than that of Bitcoin, which has had a 1% return rate since its launch in November 2020.
  • The minimum amount that can be loaned is 1,000 XRP, while the maximum has been set at 100,000 XRP, with a lending period of 84 days.