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Ripple Partner FlashFX to Open New ODL Corridors

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Thu, 03/11/2021 - 18:55
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Alex Dovbnya
Ripple partner FlashFX is working on new ODL corridors
Ripple Partner FlashFX to Open New ODL Corridors
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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.

Related
Ripple Dumping All of Its MoneyGram Shares

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. 

Ripple
Image by ripple.com

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. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.