Ripple has been growing all over the world by offering companies a wide range of services to process cross border transfers. At the same time, the firm has created a remittance system that allows two fiat currencies to be connected even when there is not large liquidity between them.
One of the most interesting services Ripple is already offering includes its on-demand liquidity (ODL) platform. With it, clients would use the XRP digital asset to bridge two different currencies. Moreover, they can also reduce transaction times and the fees they pay for transferring funds.
Caroline Bowler, the CEO of BTCMarkets located in Australia, informed that there currently is a growing interest in their platform and how it has implemented the XRP digital asset. She stated that they are seeing about 5% week-over-week growth since January.
Liquidity for this exchange has been growing since the last year. This shows that there is a growing interest in using XRP solutions and transferring funds across borders using XRP. In the future, new companies could start offering liquidity for XRP and help the remittances market become more efficient over time.
It is worth mentioning that the XRP digital asset would become more useful if its value increases. As David Schwartz, the CTO of Ripple, said, the larger XRP’s price the larger the value it can transfer.