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.
#XRPCommunity We are thrilled to announce that @Spend_The_Bits won the #ripple #CBDCs #hackathon final round under the #interoperability category. Such competitions are a stepping stone & each experience helps you to learn & grow. We wish to keep achieving heights in the future🙏 pic.twitter.com/9NiTvHfWy9
— SpendTheBits Inc. (@Spend_The_Bits) November 20, 2022
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.
The winner when it came to interoperability. Very impressive. Is there a better category to be a winner in? https://t.co/qmzCoauFUS
— John E Deaton (@JohnEDeaton1) November 21, 2022
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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Source: https://thecryptobasic.com/2022/11/21/lulufin-and-spendthebits-win-huge-ripple-recognitions/?utm_source=rss&utm_medium=rss&utm_campaign=lulufin-and-spendthebits-win-huge-ripple-recognitions