When questioned about how deeper liquidity impacts services like On-demand Liquidity (ODL), Breanne Madigan replied,So, as you think about the value that we’re providing, sending flow from the U.S. to Mexico because we’re able to use XRP as the bridge currency between the U.S. and the Mexico and do basically instantaneous transactions and we’re significantly reducing the cost base, sending that money cross-border. And, we’re delivering and focusing on true enterprise solutions to help them perform their business more efficiently.
Breanne Madigan replied, but as we do that, we’re really giving them the opportunity to pass on the fee savings through leveraging our technology and infrastructure to their everyday consumer.
So, you know, somebody living in America who is working and sending money back to their family in Mexico. We’re really thrilled that the work that we’re doing is really driving value to the bottom line and to everyday consumers.
Sydney Ifergan, the Crypto Expert tweeted: “Passing on free savings to family with Ripple XRP On-Demand Liquidity whether in America, Africa or New Zealand; everyone needs faster, low cost and convenient way to transfer money.”
Ripple XRP Additional Use Cases
Ripple is currently developing a feature, which third parties could use in order to mint asset backed tokens directly on the top of the XRP ledger.
In a recent interview, Schwartz stated that Ripple had explored the additional use cases and that they have some unutilized use cases already built in to it.
Schwartz stated that their engineering team is beginning to “realize the properties of the algorithms we’d developed allowed us to do things, like a decentralized exchange.”
Ripple recently tweeted: “Together with @cross_enf and our newly added customers Sentbe, Hanpass, WireBarley and more, we are dramatically improving the cross-border payments experience in Korea.”
Xpring, Ripple’s development and fundraising arm, recently sponsored the hackathon in which about 275 developers created new and innovative projects in fintech, gaming and cybersecurity.
Ripple stated that the new XRP based payment app will permit four billion smartphone users to be able to send money to anywhere in the world using text.
Ripple when talking about Xpring software development kit (SDK) for XRP and about the Twilio application programming interface for text messaging stated, “SMS is the most widely used data application on the planet with over 4 billion users worldwide, many of which don’t have access to the internet. Remit now allows these users to send money globally using XRP over SMS and (soon) [Interledger].”
Remit was declared the winner of the “Best Use of Xpring” challenge. The challenge focused on creative uses applicable for XRP and the Interledger Protocol (ILP).