US-based Ripple , enterprise blockchain and crypto solutions provider, has announced a partnership with Singapore-based payments institution FOMO Pay . FOMO Pay will use Ripple’s crypto-enabled enterprise technology to improve its cross-border treasury flows.

On-Demand Liquidity (ODL) uses XRP, the digital asset built for payments as a bridge between two fiat currencies. Historically, ODL has been primarily used for cross-border payments to help payment services providers (PSPs) and small-to-medium enterprises (SMEs) manage trapped capital that could be better deployed to help grow and scale their businesses. By using ODL for treasury payments, FOMO Pay can get 24/7, all year round access to liquidity for EUR and USD, thereby allowing for same-day settlement globally.

Prior to using ODL, FOMO Pay’s treasury managers had to use other modes of payment in EUR and USD where funds would take 1-2 days to reach destination accounts. .