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HomeCrypto NewsMarketLuLuFin And SpendTheBits Win Huge Ripple Recognitions

LuLuFin And SpendTheBits Win Huge Ripple Recognitions

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Ripple recognizes LuLuFin and SpendTheBits for innovation.



Ripple has recognized LuLu Financial Holdings (LuLuFin) and SpendTheBits for innovation, as Ripple Swell 2022 concludes.

Notably, LuLuFin received recognition as the winner in the Network Accelerator category of the Blockchain Innovation Awards held at the annual Ripple Swell conference, per a press release on Sunday. The firm is one of the early adopters of XRP for business solutions through Ripple’s On-Demand Liquidity (ODL) service. 

LuLuFin has interests in the Philippines, Hong Kong, and Singapore, with its holding company based in Abu-Dhabi. Per the press release, the primary services offered by the company include cross-border payments, currency exchange, and wholesale banknotes.

“It is a proud moment for all of us at LuLu Financial Holdings to be recognized with the coveted Network Accelerator award,” Mr. Adeeb Ahamed, Managing Director of LuLu Financial Holdings, said, accepting the award for the company. “As early adopters of Ripple’s XRP for B2B applications, the On-Demand Liquidity (ODL) facility has helped us optimize fund management in our APAC corridor within permissible regulatory frameworks.”

Mr. Ahamed asserted that the company remains committed to making cross-border payments seamless for users while benefiting its partners.

SpendTheBits Win Interoperability Category In Ripple’s CBDC Hackathon 

Meanwhile, SpendTheBits also tweeted yesterday that it had been recognized as the winner of the interoperability category in Ripple’s CBDC hackathon.

Notably, users have rushed to congratulate SpendTheBits CEO Jaskaran Kambo and his team for the achievement.

Attorney John E. Deaton asserted that there is no better category.

Both recognitions come as Ripple continues incentivizing real-world solutions utilizing the XRP Ledger. As reported by The Crypto Basic on November 17, Ripple chief Brad Garlinghouse expects crypto to stage a strong comeback on the back of these real-world use cases.

The blockchain payments company is now looking to extend its services to Europe as it seeks a virtual asset service provider (VASP) license in Ireland.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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