- Leading blockchain-powered payments service provider Ripple has announced a new partnership with FOMO Pay.
- FOMO Pay will get 24/7 access to liquidity for the US dollar and the euro, enabling same-day settlement for international payments.
- “This is why we are so excited to launch this crypto-enabled treasury management use case for ODL with innovative customers like FOMO Pay,” said a senior spokesperson for Ripple.
Leading blockchain-powered payments service provider Ripple has announced a new fast money transfer partnership.
Using Ripple’s On-Demand Liquidity (ODL) service, FOMO will be able to achieve instant, low-cost cross-border settlements for US dollar and euro transactions.
ODL is based around XRP, a digital asset created by Ripple to help make payments between fiat currencies easier.
FOMO Pay will get 24/7 access to liquidity for the US dollar and the euro, enabling same-day settlement for international payments.
“As one of the leading payment institutions in Singapore, FOMO Pay aims to provide our clients with more efficient and cost-effective payment modes in different currencies,” said Louis Liu, a senior figure at FOMO Pay.
“We are excited to partner with Ripple to leverage On-Demand Liquidity for treasury management, which allows us to achieve affordable and instant settlement in EUR and USD globally,” he explained.
“With the Asia Pacific region teeming with opportunities to solve existing silos and inefficiencies with payments, we’re seeing many forward-looking financial institutions clamouring for the next evolution of payment infrastructures – and notably based on crypto and blockchain technologies,” said Brooks Entwistle, the senior vice president and managing director of Ripple.
“This is why we are so excited to launch this crypto-enabled treasury management use case for ODL with innovative customers like FOMO Pay.”
FOMO Pay will join big names such as Azimo, Tranglo, SBI Remit and Novatti in partnering with the leading payment provider.
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