Ripple Works To Expand XRP Remittance Platform in 2021

Ripple has been making headlines as the firm is working hard to boost the whole XRP ecosystem.

The company also pushes for the mass adoption of XRP, and things are going great in this direction as well.

If you’re wondering about XRP’s price today, at the moment of writing this article, XRP is trading in the green, and the coin is priced at $0.628983.

Major expansion of XRP remittance platform

Now, Ripple is in the spotlight again and senior vice president of product management and corporate development just said that the payments firm plans a massive expansion of its XRP remittance platform next year.

During a new interview on the Lend Academy Podcast, Asheesh Birla talked about the state of Ripple’s XRP-powered On-Demand Liquidity (ODL) product and what’s planned for the future.

“With the cryptocurrency product, you can send into I believe three destinations around the world. We’re expanding that aggressively in 2020 and 2021…” he said.

He continued and said: “We are going to continue to expand ODL, On-Demand Liquidity. I mentioned this is in a few countries as destinations. We want to get global coverage of that where possible by the regulators.”

MoneyGram and Azimo are leading users of ODL

He also said that MoneyGram and Azimo are two leading users of ODL, as reported by the Daily Hodl.

“The traction has been so good that, you know, 10% of US dollar to Mexico which is the largest corridor in the world for remittances, 10% of that now moves over blockchain technology, digital assets and RippleNet,” he explained.

Birla continued and said “this is real. People are using it. It’s far superior compared to the traditional world where there’s tons of excess capital pre-positioned around the world just to facilitate payments which is crazy. That removes a lot of that because now you’re trusting a digital asset. You’re not trusting these large mega banks to move your money.”

Birla also explained the fact that Ripple could be focusing on e-commerce payments after the launch of the new loans platform.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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