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Ripple Announces Middle East Partnership, Says XRP Will be Used
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The US-based fintech company Ripple has announced that it will deploy its XRP-based on-demand liquidity (ODL) solution in the Middle East in partnership with a local firm, as the first such roll-out in the region.
The new ODL roll-out will happen in partnership with the Middle East-based blockchain firm Pyypl, and will initially focus on bringing low-cost remittances to the UAE by "using ODL and leveraging XRP," Ripple said.
Further, the two companies said that Ripple’s ODL solution will reduce “inefficient use of capital” by eliminating the “costly pre-funded accounts” that are normally required for cross-border payments.
“MENA continues to be a critical region for Ripple thanks to our outstanding roster of customers, a welcoming regulatory
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