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Ripple to release On-Demand Liquidity in Brazil

Monday 15 June 2020 14:05 CET | News

US-based crypto company Ripple has announced plans to launch its On-Demand Liquidity service in Brazil, as reported by a company representative during an interview.

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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Keywords: Ripple, On-Demand Liquidity, Brazil, ODL, crypto, cross-border payments, Latin America, Santander, Bradesco, Banco Rendimento, blockchain, RippleNet, payments, XRP token, fiat currencies, cross-border transactions
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Brazil
This article is part of category

Blockchain & Cryptocurrencies