1. Home
  2. News
  3. Ripple
  4. Ripple’s partner dLocal rolls out a new payment plan for expansion

Ripple’s partner dLocal rolls out a new payment plan for expansion

Photo of: Janeth Diamond
by Janeth Diamond

Ripple’s partner dLocal is one of the leading cross-border payment platforms that was formed with the mission of bridging the payments innovation gap between developed and emerging countries. Its single API platform has been designed to facilitate mass online payments across different nations. 

As a part of its expansion plans, dLocal has announced that it is expanding its payment network by including three markets in Latin America and the  Caribbean: Costa Rica, Panama, and the Dominican Republic.

dLocal supports over 300 local payment methods in 23 emerging market countries that also include the top 5 emerging markets namely Brazil, China, India, Indonesia, and Mexico. Thanks to its proprietary API-based payment technology platform, it accepts payment in any of the 23 countries where it operates across LATAM, APAC, Middle East, and Africa. The expansion announcement from the platform came in less than a month after it secured $200 million in new funding to become Latin America’s best-funded companies. This funding has been aggressively used by dLocal to add more than 13 markets to its overall coverage approximately in the next 18 months or so.

As discussed, earlier dLocal had raised more than $200 Million from investors. The company noted that the money so raised would be used for aggressive expansion. The further expansion in the Caribbean and Latin America is just a part of this expansion plan. To the company, the expansion is just the beginning of its elaborate plans. The latest expansion plans are targeted at emerging countries and have brought the number of countries eligible to 23. 

In total there are more than 450 partners of the transitional payment services firm. The system at present has more than 2.5 billion customers in the loop presently. The target of the firm is not just to engage in international remittance but also to provide local payments that are API-based. As for the partners of Ripple, they are all flourishing in their own right in terms of expansion and development. Ripple also has been investing time and resources to expand their financial services firm in the industry. Their efforts are mainly oriented in the blockchain industry although they do intend to expand beyond the convention.

Ripple blockchain has been working tirelessly with its partners to ensure that the Ripple blockchain finds other use cases in other industries. Its successful stints and strategies continue to promote the global adoption of the Ripple blockchain. Despite such elaborate plans with collaborators, the same cannot be said about its token XRP.

In the last few years, the XRP token has been performing in a bearish mode against the USD. Towards the 2’nd quarter of the year 2020, XRP price prediction remained bearish while the token made significant progress. 

Source: CoinGecko
XRP price as of press time is $0.251255 with a 24-hour trading volume of $1,494,596,655. XRP price is up 2.4% in the last 24 hours. It has a circulating supply of 45 Billion coins and a max supply of 100 Billion coins as per the information on CoinGecko.