To make real-time and seamless cross-border payments, Ripple, a leader in block chain and crypto business solutions, has established On-Demand Liquidity (ODL) solutions in France and Sweden.

In a statement, Ripple said it has partnered with Lemonway, a payment provider for online marketplaces based in Paris, and Xbaht, a Swedish money transfer provider, for instant and cheap money transfers across borders.

According to the report:

“By partnering with Ripple, Lemonway is able to drive operational efficiency by removing the need for Lemonway to fund offshore accounts, giving them the opportunity to use previously trapped pre-funded capital to grow and scale their business.”

Uses of Ripple’s ODL Solution XRP, its native cryptocurrency, for low-cost, real-time settlements between countries. In addition, it eliminates the need to maintain pre-financed capital in the destination market.

Therefore, Sendi Young, Managing Director of Ripple in Europe, sees the solution as a springboard to address the conventional problems related to cross-border payments, such as excessive cost, lack of reliability and low speed.

young added:

“We are delighted to be working with Lemonway and Xbaht, our first ODL customers in France and Sweden, respectively. This is why we have become the partner of choice for companies like Lemonway and Xbaht looking to tap into global crypto-liquidity.”

For his part, Jeremy Ricordeau, chief operating officer of Lemonway, stated:

“Ripple’s solution allows us greater flexibility when making payments to our partners, freeing us from the traditional banking cut-off cycle and driving operational efficiency.”

Having established itself in 25 payment markets, including Thailand, Indonesia, Poland, Malaysia, and Singapore, Ripple’s ODL solution continues to gain traction.

In August, Travelex Bank became the first Brazilian financial institution to use Ripple’s ODL solution to power its business activities, Blockchain.News reported.

By establishing the ODL solution in France and Sweden, Ripple is looking to enhance its expansion drive in Europe, as demand for the company’s products remains exceptionally high on the continent.

Image Source: Shutterstock