Digital Payment Platform Azimo Launches In Australia

Saturday 21 November 2020, 7:00 AM AEST - 4 days ago

Azimo – a payment platform headquartered in Amsterdam – has recently launched in Australia.

 A country known for it’s thriving payment platform industry, Holland is well-known across Europe for its innovative banking solutions such as iDEAL or bunq.

A Cryptocurrency-Friendly Platform For Payments

Although not as well-known in the industry as the aforementioned platforms, Azimo has been operating in Europe for the past 8 years with little to no hitches – and bring something special to the market.

Azimo is a user of Ripple’s On-Demand Liquidity Solution (ODL).

Ripple’s ODL service uses the XRP cryptocurrency asset to provide instant payments in over 45 countries and can reduce liquidity costs by up to 60% when compared to old-school banking practices.

Dora Ziambra – the Chief Operations Officer of Azimo – stated that Azimo identified Australia and the APAC region in general as a more attractive market than the USA, likely owing to the fact that the Australian public and private sectors as a whole have proven far more interested in blockchain technology than their NA counterparts.

According to Richard Ambrose – the CEO of Azimo – the use of digital assets to reduce payment SLAs has interested them for quite some time.

“We’ve been interested for a long time in the potential of digital assets like XRP to make cross-border payments better for customers. Ripple’s ODL solution has significantly reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits. As more banks and financial institutions use ODL, we believe it has the potential to replace current methods of foreign exchange trading and to reduce settlement time to close to zero.”

Boasting a money transfer SLA of under 24 hours, Azimo seems poised to be a competitive choice for Australians looking to send and receive quick payments worldwide. 

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