Skip to content
Active Currencies: 17,434
Market Cap: $2.244T
Bitcoin Dominance: 55.90%
24h Market Cap Change: $-2.22

Trade Finance bank Euro Exim to facilitate payments using RippleNet
Written by Written by Samyuktha Sriram
Reviewed by Reviewed by Samyuktha Sriram
Updated January 29, 2024

Global trade finance bank, Euro Exim is working with Ripple to connect banks, payment providers, and digital asset exchanges via RippleNet.

Euro Exim is a class A International Banking Financial institution incorporated under the revised laws of St. Lucia, which authorizes it to conduct business with third parties across industries worldwide.

The bank has implemented Ripple’s xCurrent and On-Demand Liquidity (ODL) services harnessing Ripple’s technical capabilities and blockchain expertise in trading systems and global payments.

“Through the benefits extended by our partnership with RippleNet, we ensure that our clients will experience security, speed and integrity of cross-border transactions.”, stated Euro Exim in a blog.

xCurrent is Ripple’s enterprise software solution that enables banks to instantly communicate and settle cross-border payments with end-to-end tracking.

Transactions will take place using the On-Demand Liquidity (ODL) platform which uses XRP as the underlying exchange mechanism to lower operational costs and enable real-time local currency payments across emerging markets.

Brad Garlinghouse, CEO of Ripple, recently commented on why big banks aren’t partnering with Ripple, claiming that smaller banks are more interested in partnerships as they are quicker to adopt financial innovation. Larger financial institutions have existing systems in place and as a result, newer players are quicker to adopt platforms such as RippleNet.

Euro Exim is one such example that has been operational for a little over five years and now is in full support of Ripple real-time payments and low liquidity transactions with XRP as the underlying cryptocurrency.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

Samyuktha Sriram

Samyuktha is a full-time journalist at AMBCrypto. Currently pursuing her Masters in Finance and Business Analytics, she is interested in cryptocurrencies, fintech, and blockchain technology adoption across various sectors.

Related Articles

AMBCrypto
Facebook X Instagram Youtube Linkedin

AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers. We have quickly grown into the digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers on a monthly basis, across the globe.