Ripple intends to continue to expand its On-Demand Liquidity (ODL)
According to Marcus Treacher, SVP of customer success at Ripple, Ripple intends further to expand its On-Demand Liquidity (ODL) service. With this new ODL corridor, Ripple hopes to gradually expand to more in the Asia Pacific region as well as in Europe, the Middle East, and Africa.
Marcus Treacher, SVP of customer success at Ripple
Ripple focused on the expansion of the On-Demand Liquidity (ODL) service
“We have established On-Demand Liquidity corridors into Mexico, the Philippines, Australia, and Europe, and we are hoping to further this expansion by opening corridors to APAC and EMEA this year.”
Ripple rebranded its xRapid cross-border payment solution to ODL during the Swell 2018 conference. The service enables instant international transfers by eliminating the need for pre-funding with the XRP token. Works as a bridging currency.
Ripple has had four current corridors with liquidity index continually setting new highs. Ripple’s intention to venture into new markets with ODL was also confirmed by SVP of product management and development company Asheesh Birla in June.
In the interview, Treacher, who joined Ripple in 2016, also argued about working with traditional banking institutions:
“If fintech and banks were to build this kind of continued and mutually beneficial relationship, more services could be elevated to modern standards of customer service and speed as we continue to pull legacy banking systems out of their comfort zone and into the modern era of banking.”
According to him, Blockchain will be an integral part of the global financial system in the 2020s. Speaking of Ripple, the executive says that it will continue working on fixing the inefficient remittance market that is the ‘lifeline’ of many world economies.
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