Ripple presently has more than 20 ODL markets open as it continues to push global coverage
The previous week, Strike, Bitcoin’s Lightning Network-based digital payments platform, announced its integration with Shopify, allowing merchants to receive Bitcoin payments from customers around the world in US dollars. Several Twitter users, while drawing comparisons, claimed that this could negatively impact Ripple’s ODL.
In a thread of tweets, the top exec states that using digital assets is one component of the ODL solution as the Ripple team demonstrates expertise in markets against super hard fiat destination currencies (PHP, MXN, etc.) while solving liquidity challenges by ramping up its customers. He further notes that despite peculiar challenges such as volatility, and regulatory concerns associated with crypto liquidity, Ripple presently has more than 20 ODL markets open as it continues to push global coverage.
Ripple’s On-Demand Liquidity (ODL) allows customers to instantly transfer money around the world at any time without the need for pre-funded accounts.
He concludes, ”Swapping just the cryptocurrency part of the solution is like suggesting that GM just use an Energizer battery and is ready to compete w/ Tesla. There’s a lot more to consider here.”
Recent updates in the Ripple case
In recent updates shared by defense attorney James K. Filan, U.S. Magistrate Judge Sarah Netburn denied the Securities and Exchange Commission’s motion for reconsideration of the Deliberate Procedural Privilege (DPP) ruling. The former federal prosecutor says this is a “really big win” for Ripple.
The court ordered the SEC to turn over an email with a draft of the infamous Ethereum speech that was given by former top SEC official William Hinman among other documents. Back in June 2018, Hinman stated that Ethereum was not a security, at a conference in San Francisco.
The SEC argued that these documents were protected by the DPP to continue withholding them. The judge, however, ruled that the personal opinions of agency staff were not protected by the privilege.
