- Ripple’s Australia ODL corridor has reached an all-time liquidity high.
- Ripple’s other three main ODL corridors have also seen a recent ODL uptick.
Ripple’s on-demand-liquidity (ODL) platform allows financial institutions to source liquidity nearly instantly and at a relatively cost-effective price. The ODL platform is part of Ripple’s flagship offering RippleNet.
ODL specifically has seen a surge in usage and popularity as financial institutions move digital due to coronavirus. Liquidity indexes for four of Ripple’s main ODL corridors have recently reached all-time highs.
The rapid growth in ODL demand is also apparent from the exchange side. In a recent interview with Caroline Bowler, CEO of BTCMarkets, Bowler talked about the surge in XRP and ODL interest in 2020.
…..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
As Ripple’s Australia ODL corridor grows at a rapid pace, other Ripple corridors are exhibiting similar levels of growth. The Mexico corridor is the largest Ripple ODL corridor, according to Bot Liquidity Index. The XRP/MXN pair’s liquidity is now consistently over 30,000,000, despite starting the year off below 10,000,000.
With coronavirus acting as a catalyst towards digital dependence, Ripple’s RippleNet platform become an even more attractive choice to financial institutions.
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