Ripple partner Intermex acquires LA National and LAN Holdings
the wave is Expansion of The European remittance market and its network in 70 countries through partner bank Intermax, which leverages RippleNet for cross-border remittance services.
In a recent agreement, Ripple partner Intermex has acquired La Nacional & LAN Holdings, Corp., a remittance company serving over 70 countries. Through the purchase of LAN Holdings, Intermex also acquires i-Transfer Global Payments, a Spain-based money transmitter that enables customers to send from Spain, Italy, Germany and Canada. The deal is expected to close in mid-2022.
It expands its reach in the European remittance market through the major EU countries Spain, Italy and Germany. In February 2020, Ripple announced its partnership with Nasdaq-listed International Money Express (Intermax), a money remittance services company.
Despite Ripple’s setbacks in the SEC case, CEO Brad Garlinghouse says RippleNet saw its best year yet with massive growth globally in 2021, with a volume run rate exceeding $10 billion.
In late 2021, Ripple announced the launch of the first on-demand liquidity (ODL) deployment of RippleNet in the Middle East, along with Pyypl, an international blockchain-based financial services technology company in the Middle East and Africa.
In addition, over the past year, Ripple announced its first in-market ODL corridor in Japan in partnership with SBI Remit, and acquired a 40% stake in Tranglo in Malaysia to expand the availability of its ODL service .
in the latest Update In the Ripple SEC case shared by defense attorney James K. Filan, Ripple defendants Chris Larson and Brad Garlinghouse have filed a letter in support of their proposal to strike the SEC’s Metz supplementary expert report.
Metz, who works for the US Justice Department, submitted her original report on October 4. They conducted an incident study to determine whether Ripple was able to manipulate the price of the XRP token with its announcements.