CryptoWallCity vs MEXC Exchange

Ripple is partnering with digital bank Travelex to introduce the product, which will initially enable transactions between Brazil and Mexico.

Ripple has introduced its cryptocurrency on-demand liquidity (ODL) service in Brazil in partnership with Travelex Bank, it announced Thursday.

Ripple’s ODL uses XRP to accelerate the transfer and exchange of fiat currencies between countries.

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil’s leading financial news publications.

Travelex is the first bank in Latin America to use ODL, Ripple said, adding that the bank is also the first to be registered and approved by the Central Bank of Brazil to operate in foreign exchange.

“Brazil is an important market for Ripple because of its importance as an anchor for business in Latin America, its openness to cryptocurrencies, and nationwide initiatives.” aims to drive fintech innovation,” Ripple CEO Brad Garlinghouse said in a statement.

For now, Travelex will use ODL for payments between Brazil and Mexico, Travelex Bank CEO João Manuel Campanelli told CoinDesk, adding that the company is working to expand that service to the United States. United States and Asia.

Other Brazilian companies such as Banco Rendimento, Remessa Online, Frente Corretora, Banco Topazio and B&T Câmbio already use RippleNet, a cross-border payments system that, Ripple said, opened offices in Brazil in 2019.

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