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Ripple plan to expand their ODL into Brazil sooner rather than later

 
Ripple plan to expand their ODL into Brazil sooner rather than later
Breaking News / Ripple / XRPUSD
  • Marjan Delatinne, the head of global banking at Ripple has said that the company's on-demand liquidity may soon be available in Brazil. 
  • With this new movement, Brazil could be the next place where Ripple goes with the cross-border payments corridor. 

Marjan Delatinne, the head of global banking at the San Francisco-based blockchain company Ripple has said that the company's on-demand liquidity may soon be available in Brazil. 

With this new movement, Brazil could be the next place where Ripple goes with the cross-border payments corridor. As a result, this could lead to its use in other Latin American countries. Speaking in an interview last week on the 8th of June, Delatinne said that the company was working hard on the development of a cross-border payment system for Brazil. He explained the on-demand liquidity in the interview as he said that the company was planning to extend its services to exotic corridors and name-dropped the Philippines and Brazil as markets where you don’t typically need to keep liquidity and you really want to move funds only when you need it.

There are currently three Brazilian companies that use the blockchain-based financial services from ripple, RippleNet. This includes the banking firm Santander, Bradesco, and Banco Rendimento. But the head of global banking at the San Francisco company highlighted that on-demand liquidity could be utilised with the XRP token as a bridge between two Fiat currencies for cross-border transactions.

This reveal comes after reports surfaced recently that the President of Brazil's central bank had held a video conference with the chief executive officer of the San Francisco company, Brad Garlinghouse as well as three other representatives from the company at the end of May. The expansion of ripple into Brazil could go into all the South American countries and could seriously see some great strides in innovation in the future.

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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