Ripple’s VP of Product Marketing: On-Demand Liquidity Boosts Value and Makes Payments Cheaper

Ripple wants all banks to be their clients. Everybody knows that the company wants to be the new SWIFT, the current payment provider for international transfers, so it is important for Ripple to show to the banks and investors what they can do.

In the latest episode of The Ripple Drop, the vice president of Product Marketing of the company, Kevin Mole, talked about the on-demand liquidity tool created by Ripple can be used to send quick payments which will also be very low-cost. According to him, this new kind of liquidity tool can be a “huge value proposition” for the company.

According to him, the on-demand liquidity provided by services such as xRapid will make transactions cheaper than ever for investors. The XRP Ledger is settled every three or five seconds, which can be considered very fast when you compare it to traditional settlements.

If you want to understand how fast this is, you should know that cross-border transactions used to take two to three days to be made before. Fortunately, now they do not take so long anymore if you use this service.

Mole believes that traditional services are simply way too slow. People need a faster experience today and for institutions, this is even more important as some of them will make transactions on a daily basis, unlike retail customers, which will not do them so often.

It is the on-demand liquidity that is responsible for such quick trades. The service is, for instance, already able to be done between Mexico and the Philippines. These two countries receive a lot of remittances from Europe and the U. S.

While Mexico receives around $31 billion USD in a year, the Philippines received $33 million USD. These are far from insignificant numbers and it means a lot that these transactions can be really fast.

Mole believes that, with a new and more efficient system such as the one being implemented by Ripple, cross-border transfers can become much quicker and widespread. In the end, he believes, this kind of efficiency is what will make XRP the global bridge that will link the world.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin Giving Strong Bullish Signals, Markets to Roar Higher into Next Year

Today, Bitcoin is on the move, aiming for $11,000, currently trading around $10,915. Adding to this bullishness is all the dry powder. $20 billion worth...

ETH Locked on Aave & Uniswap Records a Sharp Rise

Decentralized Finance (DeFi) is back to recovering, currently at over $11 billion, reaching an all-time high of nearly $12 billion from last week, as...

Bahamas Central Bank Confirms CBDC ‘Sand Dollar’ to Launch In Less Than 30 Days

The Bahamas Central Bank has confirmed that its pipeline CBDC ‘Sand dollar’ will roll out next month as anticipated. This will mark the first...

KuCoin Hack Update: 11 Crypto Projects Freeze the Stolen Tokens

Over the weekend, KuCoin lost about $275 million in BTC, XRP, BSV, XLM, TRX, stablecoins, ETH, and other ERC-20 tokens in a security breach....

Bitcoin Re-Entering the ‘Intense Historical Trading' Area Following a Strong Uptrend

Bitcoin is back at near $11,000. The leading digital currency has been making its way upwards since the mid of last week. Today, to mark...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today