Ripple to Set Up New ODL Corridor Between EU and Mexico via New Partnership

Through this collaboration, Ripple intends to improve business-to-business payments usingRippleThanks to this collaboration, FINCI intends to facilitate fast and low cost payments between Europe and Mexico for its clients.FINCI boss Mihails Kuznecovs said in an interview that the goal of his company is to eliminate hidden obstacles and inefficiencies that hinder seamless cross-border payments, and here their goals match with those of Ripple.

He added that the use of Ripple's ODL service will enable the FINCI to make lots of operational improvements and savings, which will later be put back into the business in order to improve it in general. Ripple already has several ODL corridors running in various regions, which includes Europe, Japan, the Philippines, Australia and Mexico. In Mexico, it uses local crypto exchange Bitso as an ODL service provider. As per data shared by Ripple recently, ODL is now present in 22 destination markets.ODL's popularity in EU on the rise, Ripple says

Ripple has been spreading the word that, recently, the popularity of its products and services has risen significantly in Europe as blockchain is becoming used more and more often for payments in the EU. As per recent research done by Ripple, in the near future, almost 60% of financial institutions in Europe intend to leverage blockchain to conduct payments.

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