European money transfer firm Azimo will use Ripple’s On-Demand Liquidity (ODL) solution to settle cross-border payments using XRP.
According to Richard Ambrose, CEO of Azimo, Ripple’s ODL solution has reduced the cost and delivery time for cross-border transfers, and our customers are seeing the benefits,” . ODL helps settle two currencies “within seconds” and has the potential to reduce liquidity costs by up to 60% compared to traditional banking solutions.
The cryptocurrency space is really evolving for good as more and more features which makes the daily usage of cryptocurrency smooth and safe are introduced from time to time.