Earlier this week, FinTech firm Ripple took a closer look at the rapid growth this year of its On-Demand Liquidity (ODL) solution.<\/p>\n
In a blog post published on 15 November 2022, Ripple started by pointing out that it has \u201crecently announced various new ODL customers\u201d and that \u201cODL payout markets\u201d include Africa, Argentina, Belgium, Israel, Australia, Brazil, Singapore, the UAE, and the UK.<\/p>\n
It then explained the motivation behind ODL:<\/p>\n
\u201cIntroduced in 2018, ODL was initially built to ease the frictions associated with low value, high volume\u00a0cross-border payments\u00a0such as remittances, including high transaction fees, slow settlement times, and minimal transparency. This crypto solution has been a step in the right direction to create a more financially inclusive future for economies around the world. While the pillar of financial inclusion still remains, ODL has proved a valuable asset to a number of different use cases including small-medium enterprise payments, internal treasury flows, paying out marketplace vendors and more.<\/em>\u201c<\/p>\n One ODL customer is Hai Ha Money Transfer, the CEO of which \u2014 Dianne Nguyen \u2014 said:<\/p>\n \u201cRipple\u2019s ODL solution answers the industry\u2019s age-old problems of pre-funding and speed of fund settlement. Since partnering with Ripple and utilizing ODL, we\u2019ve been able to better manage our capital requirements and funding flows, thereby allowing us to offer a near real-time payout for our customers without having to worry about the time it takes for funds to hit our bank accounts. Being able to efficiently access upfront capital to provide an enhanced service for our customers is the holy grail for our business.<\/em>\u201d <\/p>\n Ripple has also added machine learning capabilities to its ODL solution to improve customer experience. Ripple notes that \u201cthis technology makes the payment process more efficient for our customers, while managing liquidity at the utmost level to support a range of transaction types.\u201d<\/p>\n Devraj Varadhan, SVP of Engineering at Ripple, had this to say:<\/p>\n \u201cAs Ripple\u2019s products reach significant growth and scale in 2022, we continue to invent and deliver solutions to sustainably grow and offer best-in-class experience on behalf of our customers. Ripple\u2019s machine learning and automation efforts are focused on liquidity \u2013 the backbone of crypto and all of our enterprise-grade products. <\/em><\/p>\n \u201cWe\u2019re excited to launch several of those capabilities this year to scale ODL efficiently to serve more customers globally and to provide the best experience possible for our customers.<\/em>\u201c<\/p>\n Stuart Alderoty, who is FinTech firm Ripple\u2019s General Counsel, says that although his firm still has quite a lot of employees inside the U.S. (presumably since the headquarters are in San Francisco), it is \u201ceffectively\u201d operating outside the U.S.<\/p>\n According to a\u00a0report\u00a0by CNBC, Alderoty told them:<\/p>\n