Ripple On-Demand Liquidity Corridor Opens Between Japan and Philippines

Sebastian Sinclair

Updated Wed, Jul 28, 2021, 12:01 AM1 min read

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Ripple is looking to tap the almost $2 billion a year remittance market between Japan and the Philippines through the use of its on-demand liquidity (ODL) service.

Japan’s money transfer provider SBI Remit is linking arms with Philippines mobile payments service Coins.ph and crypto exchange SBI VC Trade to open up a remittance corridor between the two countries, Ripple announced in a blog post on Wednesday.
It marks a significant step for Ripple looking to get a cut of the $1.8 billion in yearly remittances from Japan to the Philippines.
ODL via Ripple’s xRapid cross-border payment service allows companies to transfer funds from one fiat currency to XRP and from XRP to another currency.
The move follows on from Ripple’s expansion in Asia after acquiring a 40% stake in cross-border payments firm Tranglo in March.

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Ripple On-Demand Liquidity Corridor Opens Between Japan and Philippines

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