Transforming the world of finance will require change from within. Ripple appears to be on the right track, as the company is now strengthening its presence in the Philippines.
Several parts of the world see a higher volume of remittance compared to others.
Another big Development for Ripple and ODL
In countries such as the Philippines, remittances are what keep most people alive.
Making this region subject to cheaper and faster payments will be incredibly beneficial.
To achieve that goal, Ripple has partnered Azimo, Europe’s leading digital money transfer service.
It is the first time that Azimo launches a service based on On-Demand Liquidity by Ripple.
If this venture proves to be successful, the project will be expanded to other countries later this year.
Under the hood, this new project will use XRP as an asset to reduce costs by up to 60%.
Solutions such as ODL can only reach their full potential once they are used by more banks and other financial institutions.
Azimo has over a million users around the world, making it a very prominent partner for companies such as Ripple.
The company currently provides money transfers from 25 countries to over 200 countries and territories worldwide.
It is another major feather in the cap for RippleNet as a network.