Ripple partners with payment giant FOMO Pay: making strides despite legal woes

on Jul 26, 2022
  • Ripple has today announced a partnership with FOMO Pay.
  • The partnership allows FOMO Pay to make instant cross-border payments 24/7.
  • Ripple is continuously making strides across the world despite its case with the US SEC.

In a press release today, Ripple (XRP/USD) has revealed that it has partnered with Singapore’s payment giant FOMO Pay.

The partnership will see FOMO Pay achieve instant cross-border USD and EUR payments leveraging Ripple’s On-Demand Liquidity (ODL). FOMO Pay will also be able to settle cross-border treasury settlements at a significantly lower cost.

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Speaking about the partnership, the founder and CEO of FOMO Pay, Louis Liu, said:

“As one of the leading payment institutions in Singapore, FOMO Pay aims to provide clients with more efficient and cost-effective payment modes in different currencies. We are excited to partner with Ripple to leverage On-Demand Liquidity for treasury management, which allows us to achieve affordable and instant settlement in EUR and USD globally.”

Besides FOMO Pay, several other companies have adopted Ripple’s ODL as a bridge for instant settlements and they include Pyypl, Novatti, Tranglo, iRemit, FlashFX, SBI Remit, and Azimo.

Ripple making major strides despite legal woes in the US

Despite its prolonged legal battle with the US SEC, Ripple has continuously made big strides globally. Ripple is still growing rapidly across the world as businesses continue to adopt it in other parts of the world outside the US.

Mid this month, Ripple partnered with an Italian motorcycle company Ducati to allow the company to launch its NFTs on the Ripple blockchain through the XRP Ledger. It is worth noting that minting and listing of NFTs on the XRP Ledger have also grown significantly over the last few months.

XRP, which is Ripple’s native token has also been recently adopted as a payment method on CryptoBar, a Tokyo-based cryptocurrency social media platform.

The continued adoption of Ripple blockchain products and services across the globe will certainly play a big role in the survivability of the blockchain once the case makes its final findings in the case of Ripple Vs. the US SEC. If the court rules against Ripple, Ripple would still have a fighting chance outside the US owing to the businesses that have adopted it outside the US.

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