Ripple Enters Agreement With FOMO Pay

Ripple has entered into an agreement with FOMO Pay, one of Singapore&39s leading payment institutions. By leveraging Ripple&39s ODL (On-Demand Liquidity) technology along with obtaining constant access to liquidity for both Euro and USD, FOMO Pay will be able to vastly improve its treasury payments.

Even before joining forces with Ripple, the company had to rely on ineffective payment methods in which funds could take numerous days to reach destination accounts. Now though, FOMO Pay CEO Louis Liu stated that the company shall be able to comfortably carry out affordable and almost instantaneous settlements.

Moreover, according to Brooks Entwistle, SVP and Managing Director at Ripple, the Asia-Pacific region is brimming with opportunities to address issues related to ineffective payment systems. Therefore, the SVP continued, the partnership with FOMO Pay was a no-brainer.

The company obtained additional licenses from the MAS (Monetary Authority of Singapore) last year in order to broaden the scope of its regulated activities. As of now, FOMO Pay also supports transactions involving digital payment tokens such as CBDCs.

As the ongoing legal battle with the SEC continues, Ripple is actively looking to expand its influence beyond the United States and it has already done so with previous partnerships being established in places like Australia, Malaysia and the Middle East.Ripple has entered into an agreement with FOMO Pay, one of Singapore&39s leading payment institutions. By leveraging Ripple&39s ODL (On-Demand Liquidity) technology along with obtaining constant access to liquidity for both Euro and USD, FOMO Pay will be able to vastly improve its treasury payments.

Even before joining forces with Ripple, the company had to rely on ineffective payment methods in which funds could take numerous days to reach destination accounts. Now though, FOMO Pay CEO Louis Liu stated that the company shall be able to comfortably carry out affordable and almost instantaneous settlements.

Moreover, according to Brooks Entwistle, SVP and Managing Director at Ripple, the Asia-Pacific region is brimming with opportunities to address issues related to ineffective payment systems. Therefore, the SVP continued, the partnership with FOMO Pay was a no-brainer.

The company obtained additional licenses from the MAS (Monetary Authority of Singapore) last year in order to broaden the scope of its regulated activities. As of now, FOMO Pay also supports transactions involving digital payment tokens such as CBDCs.

As the ongoing legal battle with the SEC continues, Ripple is actively looking to expand its influence beyond the United States and it has already done so with previous partnerships being established in places like Australia, Malaysia and the Middle East.