XRP On-Demand Liquidity Flows Trialled by Binance? Community Assumes So

Fri, 01/31/2020 - 08:49
Yuri Molchan
Some in the crypto community have concluded that Binance.US is trialling ODL flows, sending XRP to Mexico and Japan, but there is no official confirmation from CZ yet
Cover image via 123rf.com

Binance and Ripple are two companies who have both been expanding aggressively as of late. In September 2019, Binance banned all US users from trading on its platform. Instead, it set up a North American branch – Binance.US.

Ripple and its partner MoneyGram have been actively increasing the number of corridors to send XRP, based on Ripple’s platform ODL – On-Demand Liquidity.

There are already several fully functioning corridors, but now it seems that Binance.US is testing two more – another corridor to Mexico and a brand new one to Japan.

‘Pilot payments? Too early to confirm’

In a recent tweet, startup investor and crypto fan Eric Dadoun stated that Binance could be trialling XRP ODL flows. It’s too early to confirm, he writes, however, Dadoun pointed out that a partnership between Ripple and Binance would be obvious, since both are seeking expansion in the crypto market.

Image via Twitter

Another XRP-dedicated Twitter account @tenitoshi, which often posts data on Ripple and XRP, has also published a post about possible pilot payments of Binance.US using ODL.

Image via Twitter

The first one is between Binance.US and Mexican crypto exchange Bitso (which is also a partner of Ripple and MoneyGram, it trades XRP paired with MXN). The second one is between Binance.US and Japanese Bitbank (trading XRP against JPN).

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XRP Liquidity Index in USD, MXN corridors spikes

As previously reported by U.Today, the same Twitter account had posted data earlier about a recent surge in the XRP Liquidity Index in the USD and MXN corridors which go through Bitstamp (USD) and Bitso (MXN).

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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