Ripple Inc. has announced their partnership with Azimo. Azimo will now integrate On Demand Liquidity in their operations and use XRP.
This way, remittance will not only be faster and cheaper for end users, but Azimo would also slash costs while serving as many clients as possible.
Ripple foothold in Asia Pacific
Undoubtedly, Ripple is spreading their wings in Asia Pacific, and their decision to partner with Azimo is strategic and positive for XRP holders.
It is also less than 24 hours after Ripple announced their partnership with three more firms in South Korea.
In this deal with Azimo, XRP will enhance the company’s capabilities into the Philippines. Migrant Filipinos send upwards of $34 billion according to a 2018 report by the World Bank.
However, Ripple says it plans to open up more corridors across the region.
The CEO of Azimo, Richard Ambrose, while commenting on this development, said:
“We’ve been interested for a long time in the potential of digital assets like XRP to make cross-border payments better for customers. Ripple’s ODL solution has significantly reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits.”
Over 12 Firms Use XRP and On Demand Liquidity
By using XRP and ODL, Azimo joins a dozen other companies who are already using ODL in their operations. Some of them include TransferGo and goLance.