Ripple Partner, Novatti Allows XRP and BTC… Using CryptoSpend Visa Card
- Novatti Payments in Australia has started promoting CryptoSpend Visa (NYSE:) cards.
- CryptoSpend Visa Card will support XRP, BTC, BCH, ETH and LTC.
- The lawsuit against the SEC is currently in the expert discovery stage.
It is said when a business partnership proves successful, subsequent streaks from other partnerships follow. This is the case between the Novatti and Ripple payments of the past months. Continuing with its expanded growth strategy, after completing a $40 million capital increase during the September quarter, Novatti is now introducing new payment services.
Novatti – a company that uses Ripple (XRP) for on-demand liquidity, has started promoting CryptoSpend Visa cards in Australia. According to the announcement, the CryptoSpend Visa card supports five cryptocurrencies at the moment.
CryptoSpend bridges the gap between cryptocurrency and the Australian banking system. Above all, CryptoSpend Card will support Visa Ripple (XRP), (BTC), (BCH), (ETH) and (LTC).
With the ongoing global shift to digital payments, Novatti is taking a strategic position to make crypto payments easier to spend. Novatti is a leading Australian financial technology company that empowers businesses to pay and in turn.
Remarkably, 2022 was a year of mega-rounds as deals tripled in the third quarter of 2021 (y/y) and increased 147%. Thus, it is experiencing the largest expansion in valuation on an annual basis. Likewise, making it the second highest quarter ever for fintech financing.
Most of all, Novatti and Ripple have a strong business alliance that started in December 2020. Recently, Novatti announced the expansion of its partnership with Ripple to include Thailand. The expansion aims to generate thousands of transactions per month which will be processed by Novatti through RippleNet.
Update on Ripple and SEC’s lawsuit
So far, according to a press release from Ripple, they have submitted all the relevant documents, and taken the certificates. Thus, the truth discovery phase ends on August 31, 2021. However, the case is currently in the expert discovery phase.
Specifically, this is the stage when the US Securities and Exchange Commission (SEC) and Ripple issue export reports on various aspects of the issue. Meanwhile, the Securities and Exchange Commission is requesting an extension. However, the court ordered the discovery of experts by mid-January 2022.
Fortunately, the price of XRP is gradually rebounding, especially since the adoption of On Demand Liquidity (ODL). Ripple reports that its transaction volume has doubled compared to last year and also, ODL transactions are up 130% on a quarterly basis.
Ripple’s (XRP) trading volume has increased over the past 24 hours by 36.06% and is currently trading at $1.10. Ripple continues to be a viable working platform for partnerships. In light of Novatti, more business announcements are expected from both parties. We can only wait to see the outcome of the SEC’s lawsuit against Ripple.
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