In Sweden and France, Ripple is introducing on-demand funding solutions.

In a statement, Ripple stated that it has teamed up with Lemonway, a payment system for online markets based in Paris, and Xbaht, a Swedish payment processing service, to offer quick and affordable cross-border money transfers.

The report states:

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

With the ODL solution from Ripple, international payments may be settled instantly and cheaply. Additionally, it does away with the requirement to keep pre-funded cash in the target audience.

Sendi Young, the managing director of Ripple for Europe, believes that the solution can be used as a first move in addressing more widespread issues with cross-border payments, such as their high costs, dependability, and slow speeds.

Young adds:

“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 enterprises such as Lemonway and Xbaht looking to tap into global crypto liquidity.”

The chief operating officer of Lemonway, Jeremy Ricordeau, said:

“Ripples solution allows us greater flexibility when we make payments to our partners, releasing us from the traditional banking cut-off cycle and driving operational efficiencies.”

Ripple's ODL solution has entrenched itself in 25 payout markets, including Thailand, Indonesia, Poland, Malaysia, and Singapore.

According to Blockchain.News, Travelex Bank became the initial financial institution in Brazil to employ Ripple's ODL technology to expand its selling operations in August.

Given that the market for the company's products continues to be extremely high throughout the continent, Ripple intends to strengthen its European development push by launching the ODL solution in France and Sweden.

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