Ripple Signs New Partnership W ith International Money Transfer Firm To Use XRP for Cross Border Payments

San Francisco-based payments company Ripple is partnering with a Lithuanian financial technology (FinTech) firm to facilitate cross-border money transfers.In a new press release, Ripple says it’s joining forces with the Vilnius-headquartered FINCI to offer services for both retail and business-to-business (B2B) customers.

RippleNet’s On-Demand Liquidity (ODL) protocol will leverage XRP to enable payments between Europe and Mexico without requiring FINCI to tie up capital by pre-funding accounts located abroad.FINCI represents Ripple’s first-ever customer located in Lithuania, and its ODL service has now expanded into over two dozen payout markets including Singapore, Poland, and Thailand.Ripple’s European managing director Sendi Young explained how using ODL enables more efficient international transactions.


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