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ODL stands for On-Demand Liquidity, a service from Ripple that uses XRP to facilitate international money transfers faster and cheaper compared to traditional methods.
How does ODL work?
In the traditional system, when transferring money from one country to another, banks need to open accounts in different currencies in other countries (known as 'correspondent accounts'), which is costly and time-consuming.
With ODL:
1. The bank or remittance company sends its local currency (e.g., Saudi Riyal).
2. This currency is instantly converted to XRP.
3. XRP is sent across the Ripple network to the receiving party within seconds.
4. XRP is instantly converted to the local currency in the recipient's country (e.g., Philippine Peso).
5. The amount is delivered to the recipient in their currency.
Advantages:
• High speed (seconds instead of days).
• Low cost (no need for many intermediaries).
• No need for huge cash reserves in external accounts.
Who uses ODL?
Currently used by money transfer companies and some banks, especially in countries with high outbound remittances like the Philippines, Mexico, Australia, and East Asian countries.
#Xrp🔥🔥
#XRPRealityCheck
#EthereumFuture
#BTCvsMarkets
#xrp
How does ODL work?
In the traditional system, when transferring money from one country to another, banks need to open accounts in different currencies in other countries (known as 'correspondent accounts'), which is costly and time-consuming.
With ODL:
1. The bank or remittance company sends its local currency (e.g., Saudi Riyal).
2. This currency is instantly converted to XRP.
3. XRP is sent across the Ripple network to the receiving party within seconds.
4. XRP is instantly converted to the local currency in the recipient's country (e.g., Philippine Peso).
5. The amount is delivered to the recipient in their currency.
Advantages:
• High speed (seconds instead of days).
• Low cost (no need for many intermediaries).
• No need for huge cash reserves in external accounts.
Who uses ODL?
Currently used by money transfer companies and some banks, especially in countries with high outbound remittances like the Philippines, Mexico, Australia, and East Asian countries.
#Xrp🔥🔥
#XRPRealityCheck
#EthereumFuture
#BTCvsMarkets
#xrp
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The XRP currency from Ripple Labs is primarily used in a product called RippleNet, which is an international money transfer network aimed at accelerating transfers and reducing costs between banks and financial institutions.
Not all institutions that use RippleNet necessarily use XRP, but some do use XRP through a product called On-Demand Liquidity (ODL). SEC issues.
#XR #Xrp🔥🔥#BinanceAlphaAlert #MarketRebound #BTCvsMarkets
Not all institutions that use RippleNet necessarily use XRP, but some do use XRP through a product called On-Demand Liquidity (ODL). SEC issues.
#XR #Xrp🔥🔥#BinanceAlphaAlert #MarketRebound #BTCvsMarkets
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حط مبلغ التحويل . 10950
What is the reason for not transferring the balance, please, even though I have USDC in the account and it says you do not own SOL
$BTC $ETH $XRP
$BTC $ETH $XRP
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The best investment currency similar to BNB started at half a dollar and is now above 600
The moon promise 💪
The moon promise 💪
For your information, this currency is for speculation only and is not suitable for investment. $USUAL
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#BNB was worth half a dollar in 2017. See its price today. Patience, patience.
Greed is deadly
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Its currency is similar to #BNB.
Currency(USUAL)
USUAL is a decentralized stablecoin that aims to reshape traditional financial systems by integrating transparency, decentralization, and user empowerment. The stablecoin is issued at USD0++, fully backed by high-quality assets, ensuring security and transparency. The native token $USUAL is a governance tool that enables holders to participate in the financial policy decisions of the protocol, as well as earn financial rewards.
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What is the expected price?
$USUAL
In the terrifying darkness, there is a candle here that lights your way, comforts your heart, gives you hope, and compensates for what the darkness has caused
And if darkness falls, the sun must rise, and so is everything in life. Be patient and rest assured. Good is coming in a way that no human being expects. And whoever knows me, I do not say anything like everyone
I see you on the richness 💰
#usual
In the terrifying darkness, there is a candle here that lights your way, comforts your heart, gives you hope, and compensates for what the darkness has caused
And if darkness falls, the sun must rise, and so is everything in life. Be patient and rest assured. Good is coming in a way that no human being expects. And whoever knows me, I do not say anything like everyone
I see you on the richness 💰
#usual
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What is its short, long and medium term goal?
$USUAL coin
It exceeds the $1 threshold, as we mentioned before, you who used to say that the $USUAL coin is like other digital currencies, and unfortunately there are those who do not invest in this currency and are stingy with achieving respectable profits from the currency. I remember very well when I wrote a blog post about the $USUAL coin. There were those who doubted it and there were those who said that it is like usdt and usdc and fusdb and a lot of talk that is neither fattening nor satisfying. Let it be known to you that any blog post I do, I always search for it and its project.
It exceeds the $1 threshold, as we mentioned before, you who used to say that the $USUAL coin is like other digital currencies, and unfortunately there are those who do not invest in this currency and are stingy with achieving respectable profits from the currency. I remember very well when I wrote a blog post about the $USUAL coin. There were those who doubted it and there were those who said that it is like usdt and usdc and fusdb and a lot of talk that is neither fattening nor satisfying. Let it be known to you that any blog post I do, I always search for it and its project.
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#MyFirstFeedPost Welcome to Binance Square!Where is#ORDIheading? What are your near-term expectations?
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