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I-Remit Expands Partnership With XRP for Treasury Management

I-Remit is expanding its use of ODL to improve its internal treasury management. I-Remit is the leading non-bank supplier of remittance services in the Philippines. ODL uses XRP to...
I-Remit Expands Partnership With XRP for Treasury Management © Reuters. I-Remit Expands Partnership With XRP for Treasury Management
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  • I-Remit is expanding its use of ODL to improve its internal treasury management.
  • I-Remit is the leading non-bank supplier of remittance services in the Philippines.
  • ODL uses XRP to provide quick and inexpensive settlement.

One of the leading blockchain enterprise and crypto payment solutions, Ripple, revealed that the leading non-bank supplier of remittance services in the Philippines, I-Remit, will increase its usage of Ripple’s On-Demand Liquidity (ODL) technology to enhance its cross-border treasury flows.

I-Remit, a Ripple (XRP) partner since 2018, was a pioneer of ODL and had been utilizing the blockchain-enabled enterprise solution to swiftly and affordably clear cross-border payments into the Philippines.

ODL uses XRP, the utility token of the Ripple blockchain, to provide instantaneous and inexpensive settlement without the need to keep pre-funded capital in a destination market.

The new move by I-Remit will help improve its internal treasury management, reducing the obstacles and friction associated with cross-border payments due to the inherent infrastructure of the traditional banking system. According to Ripple, I-Remit will gain 24/7, all-year-round access to liquidity for its financing requirements.

Harris D. Jacildo, Chairman and President of I-Remit, said,

We’ve been able to scale and accelerate our extensive payout capabilities in the Philippines. We’re excited for this next chapter of our well-established partnership with Ripple to utilize ODL for treasury management further and provide the best possible service for our customers.

Furthermore, the senior vice president and managing director of Ripple, Brooks Entwistle, shared his views by stating,

Ripple’s strong business traction and continuous growth in ODL volume would not have been possible without partners like I-Remit looking to take advantage of blockchain and crypto technology to solve real-world problems. We’re excited at the expansion of our partnership with I-Remit.

The post I-Remit Expands Partnership With XRP for Treasury Management appeared first on Coin Edition.

See original on CoinEdition

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30-09-2022 10:49:23 (UTC+7)

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    EUR/USD 0.9804 ↑ Sell  
    GBP/USD 1.1099 ↑ Buy  
    USD/JPY 144.74 ↑ Buy  
    AUD/USD 0.6493 ↑ Sell  
    USD/CAD 1.3709 Buy  
    EUR/JPY 141.90 ↑ Buy  
    EUR/CHF 0.9573 ↑ Buy  
    Gold 1,670.40 ↑ Sell  
    Silver 18.828 ↑ Sell  
    Copper 3.4155 ↑ Sell  
    Crude Oil WTI 81.03 ↑ Sell  
    Brent Oil 86.94 ↑ Sell  
    Natural Gas 6.844 ↑ Sell  
    US Coffee C 225.55 ↑ Buy  
    Euro Stoxx 50 3,279.04 ↑ Buy  
    S&P 500 3,640.47 Neutral  
    DAX 11,975.55 ↑ Buy  
    FTSE 100 6,881.59 ↑ Buy  
    Hang Seng 17,150.00 ↑ Sell  
    Small Cap 2000 1,671.71 Buy  
    IBEX 35 7,300.10 Buy  
    BASF 38.850 ↑ Sell  
    Bayer 47.72 ↑ Sell  
    Allianz 159.62 ↑ Buy  
    Adidas 124.02 ↑ Sell  
    Lufthansa 5.817 ↑ Buy  
    Siemens AG 98.26 Neutral  
    Deutsche Bank AG 7.594 Sell  
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