Ripple partners with Travelex to launch enterprise crypto payment service in Brazil

Cointelegraph

Published Aug 19, 2022 02:00AM ET

Updated Aug 19, 2022 03:40AM ET

Ripple’s XRP token is set to be used to facilitate fast and cost-effective cross-border transactions in Brazil, after the launch of RippleNet's On-Demand Liquidity (ODL) with forex company Travelex.

Digital payment network Ripple announced on Aug. 18 that foreign exchange company Travelex will utilize RippleNet’s ODL to facilitate cross-border payments between enterprises by utilizing Ripple’s XRP token. It also noted that Travelex Bank is the first bank approved by Brazil's central bank to operate exclusively in foreign exchange.

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