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Ripple Says Massive Global Expansion of XRP Payments Network Launching in 2020

by Daily Hodl Staff
January 25, 2020
in Ripple and XRP

Ripple says it’s launching its XRP-based cross-border payments product around the world in 2020. In its latest XRP Markets Report, the real-time gross settlement company says it will add more corridors in the following regions throughout the year for its On-Demand Liquidity (ODL).

  • Asia-Pacific
  • Europe
  • Middle East
  • Africa
  • Latin America

To date, Ripple’s liquidity solution powers payment corridors between the US, Mexico and the Philippines and serves more than two dozen companies including goLance, Viamericas, MoneyGram, Interbank Peru and FlashFX.

The XRP liquidity solution launched in late 2018. Throughout 2019, ODL volume rose by 550% with the number of transactions surging nearly 300% in the last quarter.

Ripple says ODL has the potential to give banks and enterprises a new way to free up capital. Instead of maintaining pre-funded bank accounts in various countries to facilitate fast local payments, banks and financial institutions can leverage the speed of XRP, settling transactions in three seconds while providing customers with up to 60% savings.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Shutterstock/Adrian Grosu

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