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HomeCrypto NewsMarketRipple Rebrands ODL, Now Contained Under “Ripple Payments”

Ripple Rebrands ODL, Now Contained Under “Ripple Payments”


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Ripple’s VP confirms that the firm only rebranded the missing “ODL services” section on its website to “Ripple Payments” for clarity and says core functionalities remain intact.

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For the uninitiated, Ripple’s ODL (On-Demand Liquidity) is a cross-border payment solution for instantaneous and cost-effective transactions. ODL is one of Ripple’s most used services among financial institutions. ODL uses XRP as a bridge currency for settlements. 

Recently, Ripple removed the ODL section from its official website. The move sparked concerns among market participants and investors. Daikoku, an early XRP investor, was among the users who raised concerns.

ODL Services Rebranded Under Ripple Payments

Ripple’s VP for Strategy and Operations, Emi Yoshikawa, reacted to Daikoku’s comments to clarify the situation. According to Yoshikawa, ODL was not removed from the website but rebranded under a new term, “Ripple Payments.”

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She explained that the rebranding aimed to make the service more approachable and easier to understand for those with little knowledge of cryptocurrency jargon. 

The rebrand represents a transition from crypto-like jargon to more mainstream words. It aligns with an industry-wide trend of crypto companies adopting mainstream language for their services. 

Despite the rebranding, users should expect Ripple Payments to work precisely as ODL did. The rebrand aims at simplification and mainstream adoption, not a shift in its services.

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Ripple’s Network of Partners Grows

Notably, the partnership network of Ripple has only continued to grow. Top financial institutions like Tranglo, Moneygram, SBI Remit, and Pyypl use Ripple’s Payment services.

Tranglao recently reported increased ODL usage by over 1,700% in 2022. Tranglao’s volume on ODL increased from $53 million in 2021 to $970 million in 2022. In the first half of 2023, the figure grew to $2 billion.

Ripple will work with Tranglo to expand its services to three new countries. They include the Philippines, Vietnam, and Indonesia. Ripple will assist in seamless fund transfers across its extensive global partner network.

The adoption of Ripple’s payment solution has only continued growing thanks to enhanced scalability, cost-effectiveness, and speed. The rebrand doesn’t change any of its services. Instead, it makes it easier for everyone to understand Ripple’s services.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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