Ripple Expands Into New Zealand With AirWallex

June 30, 2022 9:05 pm

Ripple partner AirWallex just announced that the company will be launching its international payment services in New Zealand.

AirWallex is known as a payment service that businesses can use instead of traditional banks and already has a large international presence.

With this new expansion, this will further accelerate the adoption of RippleNet which the company has been using since 2017.

This latest development is one out of a long list of recent developments that Ripple has achieved which indicates its strong growth outside of the US.

Other recent partnerships that Ripple has had includes its deal with Lotus Cars.

U.today reports:

The renowned British performance car manufacturer, Lotus, has revealed plans to enter the market of non-fungible tokens (NFTs).

For its inaugural NFT Collection, Lotus will work with NFT PRO, an industry specialist, and Ripple, its blockchain partner that will offer technical support on the XRP Ledger (XRPL) network.

By providing new prospects for its consumers, NFT collectors and crypto enthusiasts, the cooperation between Lotus and NFT PRO signifies the automobile manufacturer’s entry into web3.

The management of how the XRP ledger will be handled has now also been changed.

The XRP Ledger Foundation (XRPLF) will now be managing the XRPL code base and the foundation is a non-profit organization that is separate from the parent company.

Essentially, the foundation operates independently and will be responsible for the long term strategy of the XRP ledger and any future technical developments.

With specific organizations each with dedicated goals that all contribute to the growth of RippleNet and XRP, this certainly separates XRP from the rest of the competition.

As for what is coming next in the pipeline, it was teased that XRPL may soon have native AMM support as part of XRPL’s next stage of evolution.

CryptoNewsBTC.org reports:

Talking on this, Ripple’s director of engineering, “NIKB,” acknowledged that Ripple would proceed to contribute to the codebase whereas additionally suggesting the introduction of native AMM performance as the following stage of improvement for XRPL.

Automated market makers are DeFi good contracts that allow customers to determine a market by including cryptocurrency to a liquidity pool.

They continue to be part of decentralized exchanges (DEXs) that have been launched to take away middlemen from the buying and selling of crypto belongings.

Continued expansion into other areas of the world is expected at this point as Ripple CEO Brad Garlinghouse has previously indicated that they are operating on a business model that makes them immune to the result of the XRP lawsuit in the US.

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