BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Ripple’s XRP Remittance Volume Plummets 92% As Crypto Startup Changes Strategy

Ripple’s XRP Remittance Volume Plummets 92% As Crypto Startup Changes Strategy

Ripple’s remittance platform On Demand Liquidity (ODL) is witnessing an exponential drop in volume as the San Francisco payments startup changes its strategy in a Covid-19 world.
New statistics reveal that ODL volume peaked in May with a total of $316 million across four channels including Bitstamp to Bitso, Bitstamp to Coins.ph, BTCMarkets to Bitstamp, and BTCMarkets to Coins.ph. ODL volume took a 92% nosedive in June as the volume in all four channels amounted to a total of $25 million.
Source: Tableau Public
Ripple’s senior vice president of product management and corporate development Asheesh Birla recently predicted the drop in volume and says the payments firm is changing its strategy to adapt to a global economy ravaged by the coronavirus.
“We are continuing to focus on supporting low-value, high-frequency payments with ODL—though transaction volume may look different in this new world.
In particular, we are reducing emphasis on large treasury payments—which are traditionally used to fund businesses and services in the absence of real-time transfers—to support individual, low-value transactions, addressing the growing need in remittances and SME payments. This may reduce overall ODL transaction volumes.”
Even with the considerable drop in ODL volume, Ripple continues its push to launch ODL in new territories. Ripple vice president of customer success Marcus Treacher says the real-time payments startup is working on growing its remittance platform to service more corridors this year.
“ We have established On Demand Liquidity corridors into Mexico, the Philippines, Australia and Europe, and we’re hoping to further this expansion by opening corridors to APAC and EMEA this year.”

Check Latest News Headlines Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/IM_VISUALS
The post Ripple’s XRP Remittance Volume Plummets 92% As Crypto Startup Changes Strategy appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News


Buy Bitcoin online in ANY country, supporting 80+ Payment methods!