• Ripple CEO Brad Garlinghouse recently drew attention to the global regulatory progress in comparison to the headwinds the industry is facing in the United States.
• The Middle East/North Africa (MENA) region is seen as a promising innovation for crypto, and Ripple has already been able to sign high-profile collaborations there.
• Punnoose Mathew from Joyalukkas Exchange recently revealed that they’re working with Ripple on using XRP-based technology On-Demand Liquidity (ODL) for cross-border payments.
Ripple’s Global Regulatory Progress
Recently, Ripple CEO Brad Garlinghouse drew attention to the global regulatory progress in comparison to the headwinds the industry is facing in the United States. Despite this, one region where crypto is seen as a promising innovation and where Ripple has already been able to sign high-profile collaborations is the Middle East/North Africa (MENA).
Joyalukkas Exchange Partners With Ripple
Today, it seems that a new partner has been added by Ripple: Punnoose Mathew, managing director of Dubai based Joyalukkas Exchange. In a LinkedIn post, Mathew mentioned that he had a meeting with representatives from Ripple about how their On-Demand Liquidity technology could be used for scaling up affordable cross-border payments and providing continuous liquidity access.
About Joyalukkas Exchange
Joyalukkas Exchange is part of Joyalukkas Group, a multi-billion dollar global conglomerate and world renowned brand in jewelry trading. The payment service provider aims to be one of the leading providers of foreign exchange services in the region. It offers customers various remittance solutions with quick and easy transfers at competitive rates through cash withdrawal at various agencies as well as account withdrawal in selected countries.
Using ODL For Cross-Border Payments
In order to optimize its cross-border payments, Joyalukkas Exchange will be using XRP’s On Demand Liquidity (ODL) technology which provides instant settlement and continuous liquidity access. This collaboration between Joyalukkas Exchange and Ripple shows how blockchain solutions can provide efficient solutions for money transfer entities across borders quickly and cost effectively.
This recent partnership between Ripple and Joyalukkas Exchange further emphasizes how blockchain solutions are becoming increasingly popular among enterprises due to their ability to provide secure, fast and cost effective international transactions between different parties all over the world.