Ripple announces new ODL corridor criticizes banks for cross-border bad payments

According to a report by U.Today, in a recent report, Ripple described the bankruptcy of the banking industry in cross-border payments to small businesses. The report noted that cross-border B2B payments and remittance services for SMEs have experienced strong growth since 2016. Significant growth and expansion is occurring in the business. The report notes that although the B2B cross-border payments industry for SMEs has grown rapidly in recent years, the lack of financial services has always impacted the growth of B2B business for SMEs. Another downside to cross-border payments now is the average number of people. All of these nuances can negatively impact the ability of small businesses to measure and support their business. Ripple pointed out that blockchain technology can solve all of the above issues, especially RippleNet and its ODL services. Ripple also said that two clients, InstaReM and BeeTech, recently developed a new ODL payment method to provide fast and affordable cross-border payments in Portugal, Germany, Spain, France and Italy.