Crypto solutions company Ripple launched RippleNet's on-demand liquidity in Brazil with Travelex Bank.
By using XRP, Ripple's on-demand liquidity solution allows customers to send money across borders instantly with low-cost settlement and without the need to hold pre-funded capital in the destination market.
Through the use of on-demand liquidity, Travelex will provide near instant settlement and access to liquidity 24/7/365, allowing its partners to better grow and scale their business.
At launch, Travelex will support payments between Mexico and Brazil.
In addition, there are plans to support more corridors and use cases in the future, including internal treasury and bulk small and medium-sized enterprises payments.
"We view this partnership as a strategic opportunity that will bring the benefit of crypto to many in the region in a safe and compliant way," said João Manuel Campanelli, Chief Business Development Officer of the Travelex Group. "Travelex has always been a forward-looking company and we're pleased to be leading the charge of traditional financial institutions who are embracing the benefits of crypto and utilizing its power for real use cases that can dramatically change the way we move and manage money."
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