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- Ripple has shifted focus product XRapid, now known as On-Demand Liquidity (ODL), has erased the need to keep pre-funded accounts for overseas payments.
- Now, there is an allowance of the ODL transactions on cryptocurrency exchange Bitstamp.
- One should use XRP for faster global payments with minimal costs.
Ripple, regarded as one of the most reliable digital payments networks, is here to disrupt financial payments for the better. Its product XRapid, now known as On-Demand Liquidity (ODL), has erased the need to keep pre-funded accounts for overseas payments. Further, this cost-effective and reliable network allows financial institutions to make huge payments within seconds. In addition, it now has improved transparency and speed in completing cross border transactions.
ODL Paves Way For Ripple As A Market Leader
Now, there is an allowance of the ODL transactions on cryptocurrency exchange Bitstamp. Ripple has proven itself to be a frictionless platform experience with currencies like USD, Mexican Peso, and Euro on its network. The latest addition, GBP, has opened newer avenues for this highly strategic product. Further, ODL plans to shift its focus to low-value transactions carried out by individuals across borders. Right decision making and a bold strategy have paved their way in making Ripple a market leader. Moreover, ODL solutions have eliminated the need for trade-offs between countries to enable huge payments. Along with it, there is a reduction of the transaction time from 3 days to 3 seconds.
XRP For Faster Global Payments
Siam Commercial Bank was the first Asian Bank to join hands with Ripple and has since helped numerous families connect with the help of just a click. Experts have acknowledged the reduction in costs by 40%-60% and foreign currency volatility risks. Here, the transaction cost is nearly $0.00001. XRP used for faster global payments with minimal costs. It can carry a total of 1500 transactions per second. This makes it the most reliable digital payment and exchange network.
Along with GBP, it also plans to bring on board Brazilian Real (BRL), Thai baht (TBH), and Japanese Yen (JPY) onto its network. As individuals transfer low-value payments, this product can have a better reach and can expand its user base with the shift in focus. Furthermore, it has been coined as ‘Netflix’ of liquidity due to its market-leading features which have taken everyone by storm.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
