RippleNet’s Partner Finablr Sees 22% Boost In Revenue; Citing Samsung And UnionPay Collaborations
Several platforms that use Ripple’s technology are making progress recently. Finablr, a Ripple partner that uses the On-Demand Liquidity services of the technology firm, has recently posted some data about its revenue that confirms the idea that these companies are faring well because they use XRP.
According to the recent data published by the company, Finablr has reported earnings of $182 million USD this year, which means that the revenue went up 22% when compared to last year.
Even though Ripple is not directly cited in the report, the partnership between the two platforms was started this year and Finablr now runs on top of the XRP Ledger using the service that was formerly known as xRapid to get more liquidity.
This was not the only partnership that was started this year. Recently, Finablr also decided to team up with Samsung, the South Korean electronics giant. With this partnership, the services were embedded into Samsung’s cryptocurrency wallet, which was launched together with its newest line of phones.
Ripple Continues Its Partnerships
The prominent crypto company is continuing its efforts to make important partnerships. This year alone, Ripple started over 300 partnerships, which are considered essential for the success of the platform.
Flash FX, for instance, has been using Ripple’s ODL product to create payment corridors between the Philippines and Australia.
The ODL has also been successfully integrated into MoneyGram, a large payment service. Around 10% of all the remittances to Mexico are now using the Ripple-based service, partly because Ripple has started its integration with Bitso, the largest crypto exchange in Latin America right now.