Asheesh Birla, the general manager of RippleNet at Ripple, recently revealed that the company’s flagship XRP-powered remittance platform is on the verge of peaking global coverage.
The in-Demand Liquidity (ODL) product, which was previously known as xRapid, is designed to process cross-border payments fast and vastly cut costs. It’s utilized with the XRP token as a bridge between two fiat currencies for international transactions.
The latest episode of “The Ripple Drop” released on March 17, Birla noted that the ODL is presently in operation in at least 22 markets destinations.
Ripple has however been busy hitting partnerships with payments providers and crypto exchanges across the globe to facilitate real-time payments. Birla is extremely happy with the growth seen by RippleNet so far. The network hit a payment volume of over $11 billion by the end of 2021.
Ripple exec also noted that cryptocurrencies have become more liquid in recent years, thus enabling instant settlement of payments globally. Ripple aims to offer its customers a better experience at a lower cost.