The partnership will allow consumers and businesses to make real-time payments while sparing financial institutions to pre-fund their accounts.
Ripple Taps Lithuania’s FINCI to Expand ODL-Based International Payments
Ripple has announced a partnership with Lithuania’s FINCI to provide retail remittances and B2B payments through RippleNet’s On-Demand Liquidity . Thanks to this partnership, FINCI’s customers can make seamless payments between Europe and Mexico, a PR from Ripple said.FINCI is an online cross-border money transfer provider, while RippleNet’s ODL provides crypto-enabled international payments.
For the blockchain-focused company, FINCI is the first customer in Lithuania, and it brings the opportunity to explore the market further. Lithuania is seen as one of the most crypto-friendly nations in Europe. It’s also the first in the region to come up with its CBDC. “We’re delighted that FINCI is our latest ODL deployment in Europe and are looking forward to soon announcing additional European partners who are preparing for a crypto-enabled future,”The coming together of the two fintech companies will make it easier for consumers and businesses to make real-time payments, including remittances and fund transfers, internationally “faster, more reliably and at a lower cost.
“We’re excited to be working with Ripple to make it easier for FINCI customers to move money around the world. We share the same fundamental goal of removing the hidden inefficiencies affecting international payments. What’s more, the savings and operational improvements we’ll achieve by using Ripple’s ODL will allow us to put money back into the business and enhance our offering to our customers,” said FINCI’s CEO Mihails Kuznecovs.
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