The bear market is both a maker and a breaker of crypto empires. On the one hand, it pushed some companies like Terra and FTX out, and on the other, it allowed some projects to take root better. Ripple is one of those crypto companies that does not suffer the full brunt of “ market turmoil “. Apparently, Brad Garlinghouse’s business is doing well: his ODL business takes 90% of the shares in the foreign exchange market.
Ripple democratizes cryptos through ODL
” Our On-Demand Liquidity (ODL) solution has been widely adopted this year, and we have the technology, the global network and the diverse list of customers to prove it. »
On track to win its lawsuit against the SEC, Ripple announced growth “ record for the ODL in 2022.
” 2022 has been an unprecedented year for the use of crypto in enterprise use cases – despite market turmoil, the end goal for Ripple has always been to help businesses – be it large financial institutions or local payment service providers – to move money around the world as demonstrated today’s news says Brooks Entwistle, SVP Global Customer Success at Ripple.
Ripple did not fail to praise the virtues of ODL services in these recent publications. The cryptocurrency company considers them a “ substantial adoption » or even a « record growth “. Concretely, this manifests itself in an expansion into around 40 payment platforms worldwide. These would represent approximately 90% of the foreign exchange market “.
Currently, its on-demand liquidity services are available in ten countries: Africa, Argentina, Belgium, Israel, Brazil, Australia, Singapore, UAE and United Kingdom. Recently, Ripple has established several partnerships with several companies established in the 4 corners of the planet. Among them are Lemonway, Tranglo, Xbaht, Travelex Bank, Nutrisource, Oceanus and MFS Africa.
All in all, the observation of a rush towards Ripple’s On-Demand Liquidity solution could result in a very great interest in cryptocurrencies on both sides of the world. Indeed, more and more users, individuals or institutions, are interested in these more efficient and less restrictive payment alternatives.
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