FlashFX Opens Ripple ODL For Bitstamp Exchange Traders, Allowing For Instant USD Deposits

As one of the largest crypto exchanges on the market, Bitstamp has to offer its clients the option to fund their accounts instantly with US dollars. This was possible after FlashFX has opened the Ripple ODL corridor.

Many Companies Rely on Ripple’s ODL for Cross-Border Payments

In November this year, Ripple has managed to surpass 300 customers, becoming the strongest company in 2019. Until now, 24 firms rely on the ODL solution offered by Ripple when it comes to international payments. These firms are Viamericas, goLance, FlashFX, MoneyGram, and others. FlashFX’s CEO Nicolas Steiger has said his company has been noticing many benefits ever since starting to use Ripple ODL. Very recently, the blockchain giant has finalized a $50 million investment in MoneyGram, investment meant to open new corridors for payment in Australia and Europe. The deal is that XRP is used as a bridge currency, meaning the token’s adoption is more and more encouraged. On November 23, the daily transaction for XRP has reached a new high for all time, surpassing the 4 million mark for the first time.

More Rapid than SWIFT

In a new statement, FlashFX says Bitstamp customers no longer have to wait in order for their SWIFT transfer to go through. Brad Garlinghouse, Ripple’s CEO, has also said XRP is a much better alternative to payments made through SWIFT. It can be said XRP is still volatile, but Ripple is able to process transactions so rapidly that a drop in the price wouldn’t even be noticed.