#Ripple sat at the table with #Novatti.
Ripple, which stands out with its payment solutions on a global scale, has recently been mentioned only with its case in the USA. Ripple, who was sued by the US Securities and Exchange Commission (SEC) for selling securities, continues to sign partnership on the partnership despite this.
↘️New Partnership Good News from Ripple
Leading digital banking and payments company Novatti has also become Ripple 's newest partner. There are more than 300 companies in the RippleNet network, and Ripple continues to sign partnerships, especially with companies focused on Southeast Asia. In the announcement made on April 14, it was revealed that Ripple made a move towards the payment corridor between Australia and Southeast Asia.
In the official statement published by Novatti, it was emphasized that the current transfer systems are inadequate. Ripple's On-Demand-Liquidity product stands out as a solution far beyond traditional remittance systems. This product, previously known as xRapid, was renewed as ODL at the last Swell conference and already has a serious user base.
↘️ODL Product Will Be Used In Different Countries
Novatti will use ODL for the payment corridor between Australia and Southeast Asia. The use of ODL is known as a step that will please XRP investors, thanks to direct contact with XRP. First of all, remittance transactions will be initiated between Australia and the Philippines. IRemit, Philippines' largest remittance service provider, will also be responsible for the Philippines wing.
Novatti stated that thanks to this partnership, fast remittances can be sent to many countries around the world. Although the Philippines is seen as a small market, it is known that the country is one of the countries with the highest number of remittances after China and India. In 2020 alone, $ 33 billion was transferred to the Philippines. Most of the $ 33 billion went to transaction fees.
↘️XRP Price Was Unresponsive
Ripple has recently taken important steps towards the Southeast Asian markets and put the former manager of Uber in charge of his team there. It can be said that Ripple will focus more on Southeast Asian markets after taking a hit from the USA. XRP price was not affected much by this news and XRP has only gained 1.5 % in 24 hours.