By Tobi Loba
Ripple, the US-based blockchain tech has recently published the Q4 financial and activities report. Many important aspects were broadly discussed in the report.
But one of the aspects in the report that called attention was the significant increase of “On-Demand Liquidity (ODL)”. The report stated that USD value transacted via On-Demand Liquidity (ODL) increased by 650% in Q4.
It’s habitual of Ripple to publish the quarterly XRP Markets Reports to serve as a means of displaying transparency, coupled with regular updates regarding the view of the payment company on the market situation of the digital token XRP.
The report also includes the quarterly programmatic and institutional sales updates, necessary announcements about XRP and others.
USD Transacted Via ODL Increased by 650% between Q3 and Q4
According to the published report, in November last year, Ripple made an announcement that over 24 companies have become customers of On-Demand Liquidity, such as MoneyGram, goLance, Viamericas, FlashFX, and Interbank Peru.
To complement the USD-MXN and USD-PHP ODL corridors, Ripple started producing ODL payments originating from Australia into USD and PHP. All these and others not mentioned have greatly added to the significant growth of ODL across the board.
The report stressed the USD value transacted through the subject matter ODL. It pointed at the major increase of over 100 times it experienced between Q1 and Q4 of 2019.
The payment company specifically hinted about a 650% increase amassed by ODL between Q3 and Q4 of 2019. Also, from the Q3 to Q4 estimation, the number of ODL transactions completed also increased significantly by 390%, which is an indication of high customers’ demand for XRP across the border.
The numbers indeed speak volumes. It directly proclaims the performance of the popular On-Demand Liquidity in the course of the year.
In conclusion, the report spoke about Ripple’s investment in Bitso, the largest exchange in Mexico in order to support RippleNet’s US-MXN corridor by providing the much-needed payment liquidity.
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