Ripple and XRP are two of the most successful entitites in the crypto space, which had a great 2019, marking meaningful partnerships and increased adoption.
Ripple has been working hard to boost the XRP ecosystem and to trigger mainstream adoption for XRP.
Ripple’s main use case for XRP
Now, Ripple reveals some new insight into the company’s main use case for the digital asset XRP.
It’s been just revealed that Ripple’s managing director for Southeast Asia, the Middle East and North Africa, Navin Gupta, said that it wouldn’t be long before countries start launching their own digital currencies.
On the other hand, it’s been also revealed that he believes that such digital forms of fiat currency will be used for “domestic purposes.”
But regarding the subject of moving the currencies mentioned above across borders, he believes that the only great solution is Ripple’s XRP-powered ODL. This is the On-Demand Liquidity platform which was formerly known as xRapid.
On-Demand Liquidity, the best solution to send money across borders
Gupta sees the ODL being the ideal solution for moving money across borders.
He explained that “Because digital currency will be sovereign in nature, its primary use case would be, I speculate, domestic. So if it’s domestic, it will still need a bridge when it goes to Thailand, when it goes to Laos, when it goes to Cambodia. We are advocates of XRP because it’s suited for cross-border payments – but primarily as a bridge.”
The online publication the Daily Hodl also posted the interview that Gupta offered and we recommend that you check it out in order to learn more about what he had to say.
Ripple has been working really hard to overcome the flaws that the traditional payments system SWIFT became plagued with in all these decades of being used.
There’s a stringent need for innovation and Ripple claims to have it all. The world’s largest banks are interested in the tech already.