Ripple Partner Mercury FX Confirms Leveraging XRP-Based ODL Solution for Payment
Solomon Odunayo
2 min read
Ripple’s partner and global payment specialist, Mercury FX that allows its customers to send and receive foreign currencies, has confirmed its use of XRP-based On-Demand Liquidity (ODL) solution for payments.
This was made known by the firm while responding to the inquiry of a supposed XRP community member a couple of hours ago.
The XRP community member identified on Twitter as Winston Buki wrote, “Hey Mercury_fx_ltd, are you guys still using on demand liquidity through XRP? Thanks for your answer.”
Responding to the inquiry, Mercury FX confirmed the use of XRP-based ODL, adding that some exciting news is upcoming for the XRP community.
“We sure are and some exciting news to come….”
We sure are and some exciting news to come….
— Mercury FX (@mercury_fx_ltd) May 28, 2020
Why Mercury FX Turned to Ripple’s On-Demand Liquidity (ODL)
Mercury FX turned to Ripple’s On-Demand Liquidity (ODL) so as to enhance the efficiency of its too slow and costly transactions.
Ripple’s ODL has so far helped the payment firm to experience a drastic reduction in transaction costs, from relatively $50 to $2. Additionally, the time of settlement also experienced an expected reduction.
Ripple to Launch RippleNet Cloud Solution
Going by the report made available by Ripple on its official website, the cross-border payment firm is launching the RippleNet Cloud solution to improve the way its customers send payments on its network.
This RippleNet Cloud solution is meant to help clients move funds, including XRP, faster. Per the report, using the new product, “banks and financial institutions can maximize their business benefits with minimal effort and more flexibility.”
The new cloud solution will enable Ripple’s customers to conduct payments with one integration and a common Ripple Payment Object (PRO).
Moreover, the Cloud payment solution will allow customers to go live on the RippleNet faster than on-prem clients to avoid certain demands.
“Using Cloud, customers can go live on RippleNet five weeks faster than on-prem customers and avoid hardware requisition or staffing to get started,” Ripple stated.
Conclusively, RippleNet Cloud also makes users work with other settlement options via the use of Ripple’s On-Demand Liquidity (ODL).
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.
