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Ripple's ODL Product Close to Achieving Global Coverage

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Thu, 17/03/2022 - 19:03
Ripple's ODL Product Close to Achieving Global Coverage
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In the most recent episode of “The Ripple Drop” published earlier this Thursday, Asheesh Birla, general manager of the RippleNet network, said that the flagship On-Demand Liquidity (ODL) product was close to achieving “global coverage.”

The service, which was formerly known as xRapid, is currently operating in 22 destination markets, according to Birla.

The executive “couldn’t be happier” with the growth experienced by RippleNet. The network wrapped up 2021 with a payment volume run rate of more than $10 billion.    

Birla points to the fact that crypto is becoming more and more liquid over the years, thus it is becoming easier to move it around the world. Hence, Ripple is able to offer a much better user experience.

In November, Ripple announced its plan to launch a liquidity hub that will allow enterprises to seamlessly access a slew of trading venues. Birla compared it to Google Flights, a flight booking search service.

As reported by U.Today, Ripple is now valued at roughly $15 billion after buying back shares from its Series C funding round in January.

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NFTs could be bigger than crypto

Birla says that Ripple wants to get ahead of where adoption is, so they are ready to bring new innovative use cases to their customers.

He is working closely with RippleX, the company’s developer arm, in order to figure out opportunities in the non-fungible token (NFT) space.

The executive predicts that the NFT market could be bigger than anything the crypto community has seen so far in terms of adoption.

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