Ripple’s partner, Novatti activates XRP, BTC… with the Visa CryptoSpend card
- Novatti Payments in Australia begins to promote CryptoSpend Visa (NYSE 🙂 cards.
- Visa CryptoSpend card will support XRP, BTC, BCH, ETH and LTC.
- The lawsuit against the SEC is currently in the expert discovery phase.
It is said that when a business partnership proves successful, subsequent lines of other partnerships follow. This is the case between Novatti and Ripple payments over the past few months. Continuing its broad growth strategy, after completing a $ 40 million fundraiser in the September quarter, Novatti now provides new payment services.
Novatti, a company that uses Ripple (XRP) for on-demand liquidity, is starting to promote Visa CryptoSpend cards in Australia. According to the announcement, the CryptoSpend Visa card currently supports five cryptocurrencies.
CryptoSpend bridges the gap between cryptocurrencies and the Australian banking system. Importantly, Visa CryptoSpend card will support Ripple (XRP), (BTC), (BCH), (ETH) and (LTC).
With the global shift to digital payments underway, Novatti is taking a strategic position to make crypto payments easier to spend. Novatti is one of Australia’s leading fintech companies that allow businesses to pay and, in turn, get paid.
Surprisingly, 2022 was a year of mega-towers with deals tripling in Q3 2021 (year over year) year-on-year and up 147%. So, knowing the most eventful valuation expansion year-on-year. Likewise, making it the second highest quarter on record for FinTech financing.
Importantly, Novatti and Ripple have a strong business alliance which started in December 2020. More recently, Novatti announced that its partnership with Ripple has expanded to Thailand. The expansion aims to generate thousands of transactions per month which will be processed by Novatti through RippleNet.
Update on Ripple and the SEC Trial
So far, according to a press release from Ripple, they have submitted all relevant documents and gathered testimony. Thus, concluding the fact finding phase on August 31, 2021. Nevertheless, the case is currently in the expert discovery phase.
Specifically, this is a phase where the United States Securities and Exchange Commission (SEC) and Ripple exchanges export opinion reports on various aspects of the matter. Meanwhile, the SEC is asking for an extension. However, the court ordered an expertise by mid-January 2022.
Fortunately, the price of XRP is gradually rebounding, especially since the adoption of liquidity on demand (ODL). Ripple reports that their trading volume has doubled from last year and ODL trades have grown 130% quarter over quarter.
Ripple’s (XRP) trading volume over the past 24 hours has risen 36.06% and is currently trading at $ 1.10. Ripple continues to be a viable business ground for partnerships. In light of Novatti, more commercial announcements are expected from both sides. We can only wait to see the outcome of the SEC’s lawsuit against Ripple.
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