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- Asheesh Birla states in a new interview that Ripple will drive an aggressive expansion for its software solutions and XRP in 2021.
- As cooperation partners, MoneyGram and Azimo will play an important role in the further adaptation of XRP.
As CNF previously reported, XRP has shown strong performance in the past few days and weeks, seeing a price increase of 163% over the past 30 days, to a price of $ 0.61. With this, XRP tops the list of the best performing cryptocurrencies.
In a new one Podcast of the Lend Academy, Ripple’s General Manger Asheesh Birla says the company is planning an aggressive expansion for XRP in the next few months. Above all, the On-Demand Liquidity product is to be further adapted:
The product allows you to send cryptocurrencies to three destinations around the world. We are aggressively expanding that in 2020 and 2021[…] We will continue to expand ODL, On-Demand Liquidity. I mentioned that this is considered a travel destination in a few countries. We want to cover this wherever possible through the regulatory authorities worldwide.
According to Birla, the regulatory framework in particular plays an important role worldwide. Ripple CEO Brad Garlinghouse emphasized several times in the past that he has already thought about leaving the USA as a location, as it is still not clear whether XRP is classified as a security or not.
He named London in the United Kingdom as possible new locations, since XRP is classified as a commodity there and meets clearly defined laws. In a recently published interview, he reiterated that if the United States of America fails to create a clear framework, Ripple will have to relocate, otherwise shareholders of the company could get out.
In addition, Birla describes that MoneyGram and Azimo are the two most important users of ODL and are strongly promoting international expansion:
The pull was so good that, as you know, 10% of the US dollar went to Mexico, the world’s largest corridor for remittances. 10% of that is now flowing through blockchain technology, digital assets and RippleNet.
Birla also stated that more and more companies and people are realizing that banks are not absolutely necessary to move money cheaply, quickly and reliably across national borders:
So, in just a few years from launch, we’ve had pretty impressive results. So this is real. People use it. It’s far better than the traditional world where tons of excess capital is pre-installed all over the world just to make payments easy, which is crazy. That takes away a lot of that because now you trust a digital asset. They don’t trust these big mega banks to move your money.
Ripple’s new loan product is in great demand
Birla closed the podcast with the prospect that Ripple will market its new product “Line of Credit” even more strongly in 2021. This is currently available to all RippleNet customers in the beta version and is used to raise capital on demand.
The product is particularly interesting for fintechs and small and medium-sized enterprises (SMEs), as they can borrow XRP in order to use loans for any market, regardless of the shipping destination or the fiat currency. Birla said that the traditional financial infrastructure to date is unable to adequately meet the rising demand for credit caused by the corona pandemic:
I think there are other areas that are becoming increasingly important: You get credits and payments that give us a lot of other opportunities that we can innovate in as well. One of them is electronic commerce in particular. I think you have seen explosive growth in e-commerce with COVID.
I don’t think you have the right kind of financial infrastructure to support these types of businesses and I really look forward to that when it comes to innovating and building on that in the year ahead.
You can listen to the full podcast here:
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