SBI Ripple Asia are conducting trial and pilot projects in Asia for Ripple’s On-Demand Liquidity.The CEO of the SBI Ripple Asia, Adam Traidman In an interview on the YouTube channel Thinking Crypto, Adam Traidman said that Ripple has started to roll out its On-Demand Liquidity (ODL) solution in Asia.
According to the CEO, SBI Ripple Asia has started “limited trial and pilot projects” with various companies for the company’s payment corridor, with greater expansion forecast for the next year. He added that Ripple’s technology is great in Asian and South American countries as costs for cross-border payments are higher there.
Ripple’s ODL service is used for cross-border payments as it helps reduce the cost and time of transfers that usually take more than one business day to settle. The CEO noted that this eliminates the possibility of currency fluctuations and pre-funding requirements in cross-border transfers.
As a reminder, Ripple is facing several lawsuits over its native toke XRP. Several investors have claimed that the Ripple Labs sold them unregistered security. However, Ripple has claimed that XRP is not a security.