- Ripple’s XRP-EUR corridor has seen a surge in ODL volume.
- The Ripple European corridor is the second largest corridor by volume.
- Ripple CTO David Schwartz has commented on the matter.
Ripple On-Demand Liquidity (ODL) solution leverages blockchain technology to offer financial institutions with liquidity almost instantly at a far more cost-effective price than the current method. Institutions can source liquidity using Ripple’s native cryptocurrency, XRP.
According to Utility Scan, the XRP-EUR corridor is the most active by volume following the XRP-MXN corridor. The rapidly growing ODL volume in the Ripple European corridor drew the attention of crypto Twitter.
CTO David Schwartz commented on the matter, noting that developed corridors such as the European corridor still benefit from Ripple’s near-instant ODL offering. Unlike traditional banks and institutions, Ripple’s ODL platform still functions during off-hours and holidays creating a unique value proposition.
Ripple ODL Volume Surges
The Australian corridor via BTCMarkets has also seen a surge in ODL interest in 2020. In a recent interview, Caroline Bowler, CEO of BTCMarkets talked about the growing interest in the platform.
…..what we’re seeing with ODL, just to give you this as context, I think we’re averaging about a 5% week-over-week growth since January in terms of volume coming through our exchange on XRP. And that’s a combination of both the ODL traffic and interested people in XRP.Caroline Bowler BTCMarkets CEO
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