Ripple Exec says ODL Can Be Used as a Neutral Bridge Between CBDCs payments

Ripple policy director explained that on-demand liquidity will help the firm to facilitate Central Bank Digital Currency (CBDCs) based transactions more easily. 

Ripple is a San Francisco-based Fintech firm. Right now Ripple has its hands in many government and non-government companies to provide and support blockchain-based development and additional support. In particular, Ripple is helping many payment services to facilitate cross-border payments at the commercial level. 

APAC Policy Director at Ripple Rahul Advani recently shared some ideas of Ripple company that how it will use its on-demand high liquidity platform to make its payment solutions better, during his appearance with financial news platform Bread. 

The host asked question from Rahul about what they are doing to adapt the cross-border payment settlements, in the present time. 

Rahul replied that the majority of the big problems of banking systems are getting solutions with RippleNet. And also asserted that having low liquidity is a big issue for Ripple because it forces a  lot of capital to be tied up in pre-funding. But now Ripple will use the ODL platform to solve its CBDCs based payment settlements using ODL as a neutral bridge. 

APAC Policy Director also said that our users ( XRP token traders) can be used as the best tool to facilitate low-cost transactions by overcoming the existing issues. 

“Our customers can leverage the digital asset XRP as a neutral bridge asset between two currencies, which eliminates the need for pre-funding in destination accounts and substantially reduces their capital overheads and operational costs.“

On the question of CBDC development in APAC countries, Rahul said that APAC is leading in such countries for retail as well as wholes Central Bank Digital Currency (CBDCs).

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