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Adam Traidman, CEO of SBI Ripple Asia believes further expansion in OnDemand liquidity for ripple

 
Adam Traidman, CEO of SBI Ripple Asia believes further expansion in OnDemand liquidity for ripple
Breaking News / Ripple / XRPUSD
  • News came out early this week saying that SBI Ripple Asia is conducting trial and pilot projects for the on demand liquidity from the San Francisco-based blockchain initiative.
  • This is according to CEO Adam Traidman.

News came out early this week saying that SBI Ripple Asia is conducting trial and pilot projects for the on-demand liquidity from the San Francisco-based blockchain initiative. This is according to CEO Adam Traidman.

Asia seems to be the next place ripple is heading into with its cross-border payments corridor.

Speaking in an interview towards the end of last week on the 18th of June, Adam Traidman, the chief executive officer of SBI Ripple Asia said that the blockchain company has started to roll out it’s on-demand liquidity solution in Asia.

For those that don’t know, SBI Ripple Asia is a subsidiary of the Japanese financial services conglomerate, SBI Holdings.

“I expect that probably later this year, and into next year, things are going to move into wider spread production. I expect remittance companies that were restricted in growth because they have pre-funding requirements, they have a lot of capital—they’re going to have a lot more flexibility.”

This on-demand liquidity solution could essentially reduce the cost and delivery time for cross-border transfers on a global scale. But the CEO adds that this isn’t the best solution for every country. He further said:

“In Japan, sending money is very expensive. In the U.S., it’s not as expensive. That’s why you don’t see Ripple replacing ACH [Automated Clearing House] in the U.S. right now. The [ODL] technology is much more suited for cross-border payments where the costs are a lot higher [..] Ripple’s tech is great in Asia and very successful in South America.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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