Ripple Announces New Payment Corridor in Japan As XRP Rallies 23.5%, More Profits Ahead?

Payment’s solution company Ripple revealed the launch of a new corridor between Japan and the Philippines. This is the company’s first On-Demand Liquidity (ODL), a payment solution leveraging token XRP, in Japan. The corridor has been launched in collaboration with SBI Remit, one of the country’s most prominent money transfer provided, according to Ripple, and the leading mobile wallet for the Philippines, Coins.ph. The payment solution will connect the wallet with the digital exchange platform SBI VC Trade on RippleNet. Thus, people from these countries can use this Ripple payment channel to benefit from fast, low-cost, and cross-border money transactions. Consumers in Japan can eliminate the need for pre-funding transactions and cut their costs to send money from this country to the Philippines. Therefore, consumers and entities in Japan can access a tool to access capital with a fast and low-cost bridge between the countries and potentially drive the expansion of their payments business, Ripple added in a press release. Brad Garlinghouse, CEO at Ripple, celebrated the launch of the new corridor: Hugely excited about our newest ODL corridor — Japan is one of our largest markets. With regulatory clarity and innovative partners like SBI, the region is ready for a crypto-enabled future. General Manager of RippleNet at Ripple, Asheesh Birla, called this partnership a major milestone in what is the company...