Ripple to release On-Demand Liquidity in Brazil

Brazil could be the next area for crypto firm Ripple to reach with a cross-border payments corridor, which could lead to its use in other Latin American nations. Three Brazilian companies — Santander, Bradesco, and Banco Rendimento — currently use Ripple’s blockchain-based financial services network RippleNet for payments. ODL could be utilised with the XRP token as a bridge between two fiat currencies for cross-border transactions.

The ODL network is rising in usage. Ripple’s ODL payments network tripled in transaction volume over Q1 2020, while the USD value transacted using ODL increased by more than 294%, according to Cointelegraph.

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