Ripple CEO Teases “Fun Surprises” at Swell
Ripple CEO Brad Garlinghouse has teased “fun surprises” in his tweet about the commencement of the annual Swell conference:
“From Toronto to San Francisco, Singapore to virtual -- we have a fantastic lineup of speakers, panels, demos and some fun surprises over the next two days. Swell-o and welcome!”
Ripple has already wrapped up the first day of its Swell conference with one more to go.
CBDCs, lending, and ODL
Georgetown law professor Chris Brummer was among the most notable panelists of the first day who discussed central bank digital currencies (CBDCs) together with David Mills of the Federal Reserve Board.
According to YouTuber Crypto Eri, Ripple also touched upon its newly launched XRP-based lending product that allows getting on-demand capital to grow with On-Demand Liquidity (ODL) and scale their business globally. It wasn’t mentioned who would act as a provider for wallets.
The new lending service reduces approval times to just 24 hours, with rates varying from 4 percent to 12 percent on an APR basis. All loans will be repaid in local currencies instead of XRP.
Ripple has also updated its ODL map that now covers 55 countries and 95 currency pairs.
Alex DovbnyaXRP refuses to swell
Swell seems far less grandiose this year since it is a virtual in-house event, and XRP’s performance clearly reflects it.
Both in 2017 and 2018, XRP would see a triple-digit pump in the run-up to the event. The cryptocurrency has barely budged this time, and it’s actually down over almost three percent today.
XRP is currently down 20.11 percent from the start of last year’s Swell conference, according to Messari data.
Arman Shirinyan
Dan Burgin
Vladislav Sopov