Ripple New ODL Partners Leveraging XRP For Use Cases Beyond Remittances

Ripple is now onboarding new On-Demand Liquidity (ODL) companions that leverage XRP and the XRPL for different use circumstances past remittances.

In a disclosure by distinguished XRP neighborhood member, WrathofKahneman (WOK), the intriguing case of Ripple’s newest On-Demand Liquidity (ODL) companions has come to mild, showcasing how XRP is getting used for various functions past conventional remittances. 

One notable companion, Nutrisource, an agricultural firm primarily based in Singapore, has made important strides in sub-Saharan Africa since 2020.

Unravelling the mysteries of #Ripple’s newest ODL companions and the way #XRP is perhaps used: NutriSource. Nutrisource was introduced as an ODL consumer in November. Who or what’s Nutrisource? A bit dive with hints on a brand new dimension to Ripple’s enterprise technique. A 🧵/ 12. pic.twitter.com/vP6ZsUThWS

— WrathofKahneman 🪝 (@WKahneman) July 25, 2023

In Uganda, Kenya, Cameroon, and Tanzania, Nutrisource empowers farmers via technology-driven options, using an agrochemical enterprise and a cutting-edge FarmSanta app.

The FarmSanta app has turn into instrumental in Nutrisource’s collaboration with Ripple’s ODL, offering farmers with real-time entry to important monetary inputs and clear value discovery for his or her produce.

WOK stressed that this performance is very priceless for farmers, comparable to an Ivorian farmer talked about in a earlier interview who beforehand struggled to acquire value info on the port of Abidjan.

What units Nutrisource aside is its alignment of operations with commerce finance. Nevertheless, the precise use case for XRP stays unclear. Comparable tendencies are seen with different current ODL partners, together with Oceanus, Valency, and Star Desires.

WOK rightly emphasized that this rising sample highlights XRP’s potential as a sturdy infrastructure past conventional remittance and treasury operations.

Ripple Units the Stage

Ripple’s pivotal announcement in November 2022 laid the groundwork for this paradigm shift. The corporate, famend for its cost options tailor-made to monetary establishments, expanded its companies to cater to company clients like Nutrisource, recognizing untapped potential in varied industries.

The enlargement encompassed commerce, agriculture, e-commerce, expertise, and provide chain segments, signifying Ripple’s dedication to evolving in response to buyer wants.

This transformation in Ripple’s method was pushed by the will to deal with the restrictions of the legacy monetary system throughout a number of use circumstances.

Whereas remittances had been initially the main focus, buyer curiosity led Ripple to discover new progress avenues. Consequently, the corporate’s international funds community noticed a surge in functions like inside treasury administration, wage disbursements, and bulk transactions.

From November via January, Ripple additionally announced some new cost companions and ODL customers, as per particulars from @WKahneman.

The unfolding narrative of Ripple’s ODL companions leveraging XRP for commerce and agribusiness heralds a brand new period for the cryptocurrency’s utility, diversifying its use circumstances and strengthening its place as an integral part of economic infrastructure.