- Ripple now allow Bitstamp customer instantly deposit USD
- XRP Better than SWIFT payments – Brad Garlinghouse
Bitstamp, one of the biggest cryptocurrency exchange platform, its users can now fund their accounts with USD swiftly due to the new Ripple ODL corridor opened by FlashFX. This is possible after Australia-based FlashFX opened a new Ripple On-Demand Liquidity (ODL) corridor.
Previously in November, Ripple recorded over 300 customers which have made 2019 the company’s strongest year so far. Currently, over two dozen companies depend on Ripple’s ODL solution for cross-border payments. Their customers include major money transfer company MoneyGram, FlashFX, Viamericas, and goLance.
XRP (XRP) Price Today – XRP / USD
# Name Price 24H % 3 $0.220
Commenting on the development, the CEO of FlashFX, Nicolas Steiger stated: “As one of the earliest adopters of Ripple’s On-Demand Liquidity, we’ve seen the benefits firsthand of the product and its potential to not only dramatically improve cross border payments for customers, but to also impact our bottom line.”
Ripple recently finalized its $50 million investment in MoneyGram to release new payment corridors in Europe and Australia. The deal states that XRP must be used as a linked currency, which is expected to boost the token’s adoption. On November 23rd, Ripple’s native token XRP recorded a new all-time high on its daily transaction volume, exceeding the 4 million mark for the first time.
XRP Better than SWIFT payments – Brad Garlinghouse
Announcing this on their Twitter page @fxflash posted: “FlashFX: Fund Your Bitstamp USD Account in Minutes
Our users can now fund their Bitstamp account with USD in minutes. Experience the power of Ripple using the new FlashFX product offering. #Ripple #OnDemandLiquidity #Payments.”
In the press statement released by FlashFX, it states that Bitstamp users do not need to wait for several days for a SWIFT transfer to be completed. The CEO of Ripple, Brad Garlinghouse declared that XRP was better to SWIFT payments. Ripple’s ODL service permits RippleNet users to send payments in one currency and for them to be received in a different currency instantly. It works by exchanging funds to XRP to make the transfer before converting them into the receiving currency.
Although the XRP token remains volatile, Ripple can process transactions swiftly that its customers are not likely to be affected by any major price decline. Despite the growth and development surrounding Ripple and the obvious mass adoption of XRP amongst companies, the price of the digital coin has not experienced any obvious uptrend as compared to the general crypto market. The XRP/USD pair has spent a larger part of 2019 in decline to its current price of $0.219.