Blockchain cross-border payment platform Ripple has announced RippleNet’s first-ever On-Demand Liquidity (ODL) system in partnership with Pyypl for the Middle East and North Africa region.
In a press statement, Ripple noted that the partnership aims to bring instant, low-cost remittances to the area with the pilot project slated for the United Arab Emirates (UAE).
Through the partnership, Ripple aims to solve the pain points of traditional remittances that are known to be slow and costly. Notably, the company aims to leverage the market’s colossal remittance size that stood at $78 billion in 2020 for Saudi Arabia and the United Arab Emirates combined.
