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What are the benefits of using Ripple ODL for cross-border payments?

avatarPhilip BarrNov 25, 2021 · 3 years ago3 answers

Can you explain the advantages of utilizing Ripple ODL (On-Demand Liquidity) for cross-border payments in the cryptocurrency industry?

What are the benefits of using Ripple ODL for cross-border payments?
Ripple
ODL
Cross-border Payments

3 answers

  • avatarNov 25, 2021 · 3 years ago
    Ripple ODL offers faster and more cost-effective cross-border payments compared to traditional banking methods. With its use of XRP as a bridge currency, transactions can be settled in seconds, eliminating the need for pre-funded accounts and reducing liquidity costs.
  • avatarNov 25, 2021 · 3 years ago
    Using Ripple ODL for cross-border payments allows businesses to access new markets and customers without the need for multiple banking relationships. This streamlines the payment process and reduces the complexity and costs associated with traditional correspondent banking.
  • avatarNov 25, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, recognizes the benefits of Ripple ODL for cross-border payments. It enables faster and more efficient transactions, providing users with a seamless experience. With Ripple ODL, users can enjoy the advantages of instant settlement and reduced fees.

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