Ripple has announced the expansion of its partnership with I-Remit in the Philippines

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Ripple has announced that it will expand its partnership with i-Remit in the Philippines, a big and exciting development for Ripple and its partner. According to Ripple on Twitter, I-Remit is also one of the early adopters of On-Demand Liquidation (ODL), and is now looking to expand its use to enhance internal treasury management.

Ripple and I-Remit expand partnership

Ripple is one of the oldest and largest crypto projects operating today. Managed by a company of the same name, the project has seen some controversy over the years, culminating in the US SEC suing it for selling unregistered securities.

The legal battle that followed for Ripple, which lost many partners in its home country, cost a lot. However, the organization has found many partners in other regions of the world, including Europe, South America, and especially East Asia and Oceania. An example is I-Remit, a long-term partner that has not broken its partnership with Ripple – on the contrary, it decided to expand.

I-Remit, the largest bank remittance service provider in the Philippines, will expand its Ripple ODL solution to enhance cross-border treasury flows, Ripple announced in a statement.

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What will I-Remit get with this action?

The two have been working together since 2018. As the Philippines is a big money transfer country, services like I-Remit have been in high demand. The company partnered with Ripple to improve its business, allowing it to offer Filipinos a cheaper way to receive payments from abroad, with Ripple able to send money around the world faster and with significantly lower fees.

Now, after several years of working together, I-Remit wants to expand its services and use ODL for installment payments, allowing 24/7/365 access to liquidity for all financial needs. Eliminates multiple days for providing same-day settlements globally and pre-funding arrivals.

The company’s chairman and president, Harris D. Jacildo This is an exciting next chapter for the company and its partnership with Ripple. Brooks Entwistle, Ripple’s own senior VP and managing director, added that Ripple has strong business activity and continuous ODL volume growth, and without partners like I-Remit, it decided to give blockchain and crypto a chance and use them to solve real-world problems.


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