Ripple partner FlashFX is working on new ODL corridors.
In a recent tweet, longtime Ripple partner FlashFX confirmed that it is working on new on-demand liquidity (ODL) corridors. FlashFX joined the global RippleNet network back in September 2017, becoming the first Australian company to use blockchain technology for cross-border payments.
During Swell’s third annual conference in 2019, Ripple announced that FlashFX was one of the first to implement its ODL solution. FlashFX CEO Nicholas Steiger mentioned in an interview last year that this solves a real problem:
This is not a scam. This solves the real problem. This solves the real use case. A use case I’ve believed in for a long time.
The ODL Forex trading platform uses XRP cryptocurrency to combine fiat currencies, thus providing fast and affordable payments. In February, RippleNet general manager Ashish Birla said that new ODL partners, both in the US and abroad, would soon be announced.
It was previously known that Ripple wants to provide a solution for CBDC.