In a recent tweet, Ripple’s longtime partner FlashFX has confirmed that it’s working on new On-Demand Liquidity (ODL) corridors.
FlashFX joined the global RippleNet network back in September 2017, becoming Australia’s first company to leverage blockchain technology for cross-border payments.
During Ripple’s third annual Swell conference in 2019, Ripple announced that FlashFX was among the first adopters of its ODL solution.
Last year, FlashFX CEO Nicolas Steiger mentioned that it solves a real-world problem in an interview:
It’s not a scam. It solves a real-world problem. It solves a real use case. A use case that I’ve been believing in for a long time.
More ODL partners are coming
The ODL foreign exchange trading platform utilizes the XRP cryptocurrency for bridging fiat currencies, thus providing fast and affordable payments.
In February, Asheesh Birla, the general manager of RippleNet, claimed that new ODL partners would be announced soon both in the U.S. and abroad.
This came after MoneyGram suspended trading on Ripple’s platform due to regulatory woes. It later moved to terminate the partnership.
According to Ripple CEO Brad Garlinghouse, “billions of dollars” have been sent by MoneyGram with the help of ODL.