Ripple And Binance Partnership: XRP Transaction Triggers New Rumors
Ripple managed to seal a lot of important partnerships this year, and the San Francisco-based company also made sure to boost the whole XRP ecosystem and promote the mass adoption of the coin.
There have been some rumors about a potential partnership between Ripple and Binance, and now they are popping up again.
New evidence of a potential partnership between Binance and Ripple
XRP investors say that there’s evidence of a partnership between Ripple and Binance.
Back in February, Binance CEO Changpeng Zhao was saying that Binance will definitely team up with the startup in the future in order to support the company’s XRP-powered ODL.
ODL is the On-Demand Liquidity products of Ripple that’s powered by XRP and was formerly known as xRapid before a rebranding took place.
ODL gives banks and financial institutions a legally-compliant way to send money across borders using XRP as a bridge currency.
This relies on crypto exchanges, which can accept fiat and then send the value to the destination converted in XRP. When it reaches the destination, XRP is converted right back to fiat.
XRP transaction hint at the potential partnership
Now, it’s been revealed that some members from the XRP community say that a tracking tool that’s designed to detect the ODL volume discovered a new possible ODL transaction that involves the Russian ruble.
The interesting thing is that they’re linking the new transaction to Binance, which launched support for the ruble back in October.
— DPromo2 |TRONSTRIKE.IO| (@DappPromotion2) December 6, 2019
“It’s evidence that Binance will take a role as an ODL exchange. It will dynamite the volume. More volume means more benefits for Binance. Good job @cz_binance. Russian corridor is open since this morning,” someone said.
The online publication the Daily Hodl which is the one who reported this revealed that Zhao did not comment on the matter so far.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.