Ripple hoping to expand On-Demand Liquidity corridors by opening to APAC and EMEA this year
In a Bequant interview, Ripple vice president of the customer, Marcus Treacher, the San Francisco-headquartered company, is trying to expand On-Demand Liquidity (ODL) platform to serve more corridors this year.
#ODL daily summary
TOP 4 Corridors :
From USD TO MXN : $2,346,624
From EUR TO USD : $923,835
From AUD TO USD : $328,281
From USD TO PHP : $217,180
ODL daily volume : $3,836,652
— Utility-Scan.com (@UtilityScan) July 7, 2020
Ripple is working on expanding its On-Demand Liquidity (ODL) platform to service more corridors
According to Treacher, the payment system provided by XRP is operating in Europe:
“We have established On-Demand Liquidity corridors into Mexico, the Philippines, Australia, and Europe, and we were hoping to further this expansion by opening corridors to APAC and EMEA this year.”
Among them, potential ODL transfers are reported to have transferred large amounts of euros for US dollar transactions for weeks. The EUR / USD pair is currently one of the busiest ODL corridors with a daily volume of $ 1,062,120. Last month, Ripple global bank head Marjan Delatinne revealed that the company is also seeking to launch ODL in Brazil.
“We extend these services now to more and more corridors, typically exotic corridors with lots of challenges, like [the] Philippines [and] very soon within Brazil.”
XRP price struggling after COVID-19 market sell-offs in March
According to Arcane Research, XRP price had been struggling after the COVID-19 market sell-offs that occurred in March and has refused to pick up, while BTC and ETH have made swift recoveries.
The report stated:
“Initially, 2020 started out strong for the top 3 coins but as the markets crashed in March, the three musketeers have seen vastly different growth trajectories.”
U.S Consumer Financial Protection Bureau, which plays a major role in protecting America’s consumers in the financial sector, recently acknowledged Ripple by saying that it would seek continued growth and expanding partnerships with companies such as Ripple.
XRP’s bearish trend might continue until it hit a historic line of support against BTC at 0.000015 BTC, valued at 0.14%.
- Arcane Research: XRP Struggled To Regain Footing After The Sell-Off In March, While BTC And ETH Have Made Swift Recoveries
- Ripple Intends To Continue To Expand Its On-Demand Liquidity (ODL)