Money transfer network Ripple says that its crypto-based settlement solution, On-Demand Liquidity (ODL), is seeing rapid growth in 2022.\u00a0<\/span><\/p>\n Ripple\u2019s ODL solution uses the XRP to enable faster and cheaper cross-border payments without the need for pre-funded destination accounts<\/span><\/p>\n In a new statement<\/a>, the San Francisco-based firm says that the ODL technology is now supported in a growing number of payout markets, including Africa, Israel, Australia, Brazil, Argentina, Belgium, Singapore, the UAE and the UK.<\/span><\/p>\n Ripple says that some of its earliest customers that were onboarded for the RippleNet cross-border payment system have also upgraded to ODL for their remittances.<\/p>\n \u201cOur enterprise-grade crypto solutions have excelled in reducing the pain points most common in cross-border payments, and our focus on customer experience has propelled novel customers into the world of crypto-enabled payments solutions.\u201d<\/em><\/p>\n The firm says it also added advanced machine learning capabilities to ODL in a bid to improve customer experience.<\/p>\n Says Ripple SVP of Engineering Devraj Varadhan,<\/p>\n \u201cRipple\u2019s machine learning and automation efforts are focused on liquidity \u2013 the backbone of crypto and all of our enterprise-grade products.\u201d<\/em><\/p>\n Ripple announces the record growth of its crypto-enabled payment solution as it continues to weather its <\/span>legal battle<\/span><\/a> with the SEC, which alleges that Ripple sold XRP as an unregistered security.<\/span><\/p>\n According to Ripple general counsel Stuart Alderoty, the firm is mostly operating outside of the US because of the lawsuit, despite having much of its employees within the country.<\/span><\/p>\n \u201cEssentially, [Ripple] customers and [the firm\u2019s] revenue are all driven outside of the US, even though we still have a lot of employees inside of the US.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em>
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