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Ripple teams up with Pyypl to deploy ODL in UAE, Middle East
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With the SEC’s lawsuit against Ripple Labs now confirmed to stretch to 2022, the San Francisco-based blockchain company seems to be in hot water at home. Overseas, however, is a different story. Ripple is now in the news after forging connections with fintech stakeholders in the Middle East.
Ripple has announced that it would be partnering with international fintech company Pyypl in order to deploy the first in-market On-Demand Liquidity (ODL) services in the Middle East, using XRP.
According to Ripple, the UAE and Saudi Arabia together sent around $78 billion in remittances last year. Moreover, the MENA region contains two of the world’s top three remittance corridors. Ripple and Pyypl’s project will start in the UAE.
A blog post by Team
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