Despite nearly won SEC case: Ripple expands services to EU heavyweights France and Sweden

  • Blockchain firm, Ripple, extends its on-demand liquidity services to Sweden and France.
  • Ripple has become the platform of choice for enterprises looking to tap into crypto liquidity worldwide.

Many enterprises globally (especially in Europe) are starting to implement crypto solutions. For example, in its 2022 new value report, Ripple stated that 70 percent of survey respondents across Europe’s financial institutions predict that blockchain-related solutions will play a significant role in businesses within the next five years.

Keep in mind that Ripple’s crypto solutions are built on blockchain technology. Rather than wait for five years, enterprises in Sweden and France are starting to embrace crypto solutions. Two of Ripple’s most recent collaborations have come from enterprises in these two European nations.

The Ripple and Lemonway partnership

For instance, Lemonway and Ripple have been partners for the past two years. Lemonway is a pan-European payment solution firm with headquarters in France. It uses one of Ripple’s crypto solutions to streamline cross-border payments and reduce payout times for its clients.

Most recently, Lemonway has adopted Ripple’s on-demand liquidity (ODL) solution to make its internal treasury management more effective. Thus, pushing the company to become a global leader in providing payments solution among its competitors. With its adoption of Ripple’s ODL, Ripple becomes the first payment provider in France for online market platforms to use ODL.

Lemonway no longer needs pre-fund destination accounts overseas, making its operations more efficient. Thus, the payment institution can now use its previously trapped cash to scale its business and expand into new markets.

Ripple’s collaboration with Xbaht

In addition, Ripple also disclosed its partnership with Xbaht, a Sweden-based money transfer provider. The partnership will enable Xbaht to achieve affordable and instant retail remittances.

Through Ripple’s ODL, Xbaht and other enterprises can move their funds globally in seconds at significantly cheaper costs than what’s obtainable with traditional payment systems businesses are currently using.

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Ripple’s use of blockchain and crypto solutions to develop real-world use cases makes it the choice partner among enterprises looking to explore global crypto liquidity. A side benefit of Ripple’s blockchain solutions is that it helps enterprises solve several cross-border payment issues.

Such issues include high costs, slow settlement times, and lack of transparency. Hence, businesses and consumers in Sweden and France can start using Ripple’s ODL to settle international payments instantly.

Major crypto wallets accumulate large amounts of XRP tokens

The crypto market enjoyed a brief bullish run in the last 24 hours, with nearly all crypto assets’ prices increasing. However, top crypto wallets have been growing their XRP holdings. A whale alert data revealed that crypto whales added more than 105 million XRP tokens to their wallets within this period.

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The largest transaction happened on BitStamp, with a whale purchasing $25.8 million in XRP tokens. Ripple’s recent upper hand in its ongoing lawsuit against the US SEC might explain the recent accumulation of XRP tokens by top whales. However, Ripple keeps extending its services in various regions regardless of the outcome of the ongoing court case.

We think Ripple has good chances to win the legal case against the SEC. Probably the price of XRP will rise soon after the settlement. If you want to fill your bags with XRP and be prepared for the next moonshot you can buy easily XRP with PayPal here.

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Paul is a cryptocurrency enthusiast from Canada, and since 2021 he has been writing about cryptocurrency for online news portals. He writes mostly news-related articles. Stay tuned to his posts to stay up to date with the crypto world.

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