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Ripple plans to recollaborate with financial companies Promote

Date:2024-04-25 18:50:58 Channel:Trade Read:
Ripple plans to set off another wave of cooperation, this time targeting financial companies, aiming to promote the use of ODL in the United States. What changes will this new trend bring to the financial industry? Let's explore the mysteries together.
Ripple plans to re-collaborate with financial companies to promote the use of ODL in the United States. This news is like a bombshell that has caused a sensation in the financial technology field. Ripple has been committed to using blockchain technology to change the traditional financial system. What kind of disruptive changes will this cooperation bring to the entire industry? Let’s unveil the mystery of this collaboration together.
First, let’s review Ripple’s journey. As the world's leading blockchain payment solution provider, Ripple has been committed to creating a faster, safer and more convenient cross-border payment experience. Its unique American ODL (On-Demand Liquidity) system realizes instant settlement of global payments through the liquidity of the digital asset XRP, greatly improving the efficiency of cross-border payments and reducing costs. This renewed cooperation with financial companies will undoubtedly further consolidate Ripple’s leading position in the financial technology field.
In this cooperation, Ripple plans to promote the use of ODL in the United States, which means that more financial companies will access its advanced payment system to achieve more convenient and faster cross-border payment services. This is undoubtedly a major benefit for financial companies, which can help them reduce transaction costs, improve capital utilization efficiency, and also provide customers with a better service experience. This win-win situation will further promote the popularity and application of American ODL in the financial industry.
In addition, Ripple’s plan to re-cooperate with financial companies will also bring new development opportunities to the entire blockchain industry. As a decentralized, secure and traceable technology, blockchain is gradually penetrating into all aspects of various industries. This cooperation will further prove the feasibility and advantages of blockchain technology in the financial field and open up new possibilities for blockchain applications in more industries.
In general, Ripple plans to set sail again and cooperate with financial companies to promote the use of American ODL, which will not only bring more convenience and benefits to the financial industry, but also promote the development of the entire blockchain industry. This cooperation is undoubtedly an important milestone in the field of financial technology and is worth waiting for. Let us look forward to the vigorous development of the financial industry under this new trend!

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Coin Circle (120btc.COM) News: The Ripple case that has been litigated for many years finally has an initial glimmer of victory. The payment network company Ripple hopes to resume cooperation with financial institution customers so that they can resume using Ripple's ODL services with peace of mind.

 Ripple hopes customers will use ODL services again

Stu, chief legal officer of payment network company Ripple
Alderoty told CNBC that Ripple plans to start discussions with financial companies this quarter. It is hoped that these US banks will resume using Ripple’s ODL services after the ruling.

Note: ODL (On Demand Liquidity) is one of the services that utilizes Ripple's distributed ledger and XRP. It uses XRP as a medium for exchanging different legal currencies to promote cross-border remittances.

Alderoty said: "We hope this verdict will provide financial institution customers or potential customers with peace of mind." At least try to discuss the business issues they have with moving value across borders without incurring high fees.

According to The
Block reported that Bank of America (BoA) trialled Ripple’s technology in 2019, but it was waiting for the case to be concluded before further cooperation. American Express and Santander also partnered with the company in 2017 for cross-border payments. Because of the uncertainty of the lawsuit, most of Ripple's customers are currently located outside the United States.

 Ripple launches CBDC platform outside the United States

Ripple announced the launch of the Ripple CBDC platform in May, allowing central banks, governments and financial institutions to issue their own central bank digital currencies. Leverage XRP
The same blockchain technology used on Ledger (XRPL) allows users to fully manage and enact fiat-based central bank digital currencies, transactions and issuances.

Ripple is currently working with more than 20 countries on CBDC plans, including Palau, Bhutan and Montenegro.

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