Breaking: Ripple Unveils ODL In Brazil; Will XRP Prices Surge?
Ripple is spreading its footprints across the globe and its latest venture is in South American nation Brazil where it will be launching its On-Demand Liquidity (ODL) services. Ripple is presently locked in a bitter legal battle with SEC and the blockchain firm is seeking to spread across the globe. Will the latest expansion have an effect upon the values of XRP.
Ripple Shakes Hand With Travelex
Travelex Bank is partnering Ripple and will become the first Bank in Latin America to use ODL. Travelex will also become the first bank which has managed to get registration and approval by the Central Bank of Brazil to operate in foreign exchange.
Ripple in a release said that it will be using XRP token as Ripple’s ODL solution. It will enable users to send funds over the borders.
XRP values are on an uptrend after Ripple announced the news that it will be expanding operations in Brazil. When reports last came in it was changing hands at $0.378. The XRP values are still down by 90% from the All-Time High position. The good news is for the last 60 days XRP prices are on a recovery trend and prices have surged by 20%.
Ripple Seeks To Expand In Latin America
Brazil is creating the framework to regulate digital assets by bringing in advanced regulations which will help foster innovations. The speed with which decisions are taken helps to support crypto adoption in Latin America. Data reveals that over $780 billion in payments are sent to Brazil annually. This creates a big window of opportunity for Ripple and the populace of Brazil will accrue the benefits of Crypto Currency. Travelex will ensure that consumers get instant settlement and access to liquidity 24×7 by the use of ODL.