2020 has been a big year for Ripple, between the fintech firm’s expanding payments operations and its struggle with the SEC over XRP.
Ripple has managed to thrive as a fintech company, opening new headquarters in Dubai this year to expand its clientele base. Additionally, Ripple has partnered with many banking institutions such as the Bank of America and the Bank of Santander to deliver optimal cross-border payment solutions.
Ripple cross-border payments with ODL
Ripple offers many financial products to banks to facilitate communication and payments between them, notably RippleNet. RippleNet prides itself in bridging currencies in a matter of seconds thanks to XRP. How it works is that on-demand liquidity is provided, as XRP bridges two currencies, and customers can then quickly receive local currency on either side of a transaction with it.
Its XRP also boasts of speed, scalability, and low transaction cost. For those reasons, XRP cryptocurrency is leveraged on…