Just In: Ripple partners with Azimo, Integrates XRP

Ripple-Azimo
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Just In: Ripple partners with Azimo, Integrates XRP

Ripple Inc. has announced their partnership with Azimo. Azimo will now integrate On Demand Liquidity in their operations and use XRP.

This way, remittance will not only be faster and cheaper for end users, but Azimo would also slash costs while serving as many clients as possible.

Ripple foothold in Asia Pacific

Undoubtedly, Ripple is spreading their wings in Asia Pacific, and their decision to partner with Azimo is strategic and positive for XRP holders.

It is also less than 24 hours after Ripple announced their partnership with three more firms in South Korea.

In this deal with Azimo, XRP will enhance the company’s capabilities into the Philippines. Migrant Filipinos send upwards of $34 billion according to a 2018 report by the World Bank.

However, Ripple says it plans to open up more corridors across the region.

The CEO of Azimo, Richard Ambrose, while commenting on this development, said:

“We’ve been interested for a long time in the potential of digital assets like XRP to make cross-border payments better for customers. Ripple’s ODL solution has significantly reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits.”

Over 12 Firms Use XRP and On Demand Liquidity

By using XRP and ODL, Azimo joins a dozen other companies who are already using ODL in their operations. Some of them include TransferGo and goLance.

Nonetheless, not many Ripple partners are comfortable with XRP as a medium of cross border transfer. Specifically, the lack of regulatory clarity remains a big impediment.

Just recently, Brad Garlinghouse the CEO of the $10 billion company said he was on the mission of educating their clients, a majority of who are in the financial industry.

Ripple’s Pending Court Cases

Ripple, it must be noted, has its fair share of scrutiny and court cases.

Initially, there were three court cases forwarded by the plaintiff who claimed that the company’s executive including Brad had sold them XRP. XRP, they argue, is an unregistered security and wanted compensation for losses incurred.

At their peak, prices soared to as high as $3.26 before tumbling in subsequent sessions.

At the time of writing, the coin is trading at $0.23, down from Feb 2020 highs of $0.30.

Ripple XRP Market Performance for Feb 26
Ripple XRP Market Performance for Feb 26
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Just In: Ripple partners with Azimo, Integrates XRP
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Just In: Ripple partners with Azimo, Integrates XRP
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Ripple Inc. has announced their partnership with Azimo. Azimo will now integrate On Demand Liquidity in their operations and use XRP.
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Author: Dalmas Ngetich
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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Dalmas Ngetich 335 Articles
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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