Ripple’s ODL Solution Gains Substantial Adoption This Year: Report
In a recently published blog post, Ripple fintech heavyweight has boasted the substantial adoption that its On-Demand Liquidity (ODL) solution gained this year.
Its network and vast list of clients have expanded greatly.
ODL sees rapid growth in 2022
This year, Ripple has made several new partnerships, thanks to which it announced new ODL corridors around the world. Now, the ODL solution is being used not only in the EU, the UK and other major countries but also in developing markets, such as in Brazil, Singapore and the UAE.
Recently, Ripple spread the word about ODL corridors being set up in France and Sweden, as well as in Africa, where the fintech giant partnered with the largest mobile payment gateway in the country, MFS Africa.
ODL was first launched back in 2018 in order to ensure low-cost and fast cross-border payments, remittances in high volumes and full transparency. ODL, which utilizes XRP, is used not only in the market of remittances and retail payments but also by small and medium-sized enterprises, merchants and so on.
🌎 Our On-Demand Liquidity (ODL) solution has seen substantial adoption this year, and we have the technology, the global network and the diverse list of customers to prove it.Read more about ODL growth in 2022:— Ripple (@Ripple) November 16, 2022
Some of the early Ripple clients who began using RippleNet — which helps conducts fiat-to-fiat payments through a single API — are now also utilizing ODL to improve their transnational payments. This has landed them lots of new customers who prefer payment solutions enabled by crypto.
Ripple has also added Machine Learning capabilities to ODL in order to keep improving their customer experience.Source