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Coinbase Endorses XRP for Financial Institutions Due to ODL Capabilities
In a recent filing with the US Commodity Futures Trading Commission (CFTC), Coinbase revealed its endorsement of Ripple’s XRP cryptocurrency, citing its exceptional On-Demand Liquidity (ODL) capabilities. The move is seen as a significant development in the growing adoption of XRP among financial institutions and payment providers.
According to the filing, Coinbase emphasized the ODL feature as the primary reason for supporting XRP. This technology enables real-time currency conversion, making it an attractive solution for companies seeking to improve their cross-border payment processes.
As part of its efforts to enhance customer experience, Coinbase plans to list XRP futures contracts on its derivatives trading platform later this month. The addition of these new products marks a significant milestone in the growth and mainstream acceptance of cryptocurrencies.
Coinbase’s move is seen as a step forward in promoting XRP’s capabilities among financial institutions and payment providers. The exchange highlighted that ODL technology can lead to improved efficiency, reduced costs, and faster customer service for transactions that would typically take several days.
Ripple’s partnerships with major financial institutions have been gaining momentum lately, as more banks and institutions recognize the benefits of blockchain-based solutions in their operations. Recent developments indicate a growing interest in Ripple’s XRP cryptocurrency, which is seen as a key component in the company’s ODL technology.
This endorsement by Coinbase is a significant nod to the potential growth prospects of XRP, particularly in its capacity to enhance cross-border payment processes. The development highlights the increasing focus on decentralized financial services and the recognition of cryptocurrencies like XRP as viable alternatives to traditional methods.
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Source: https://www.crypto-news-flash.com/coinbase-endorses-xrp-for-financial-institutions-due-to-odl-capabilities/?utm_source=rss&utm_medium=rss&utm_campaign=coinbase-endorses-xrp-for-financial-institutions-due-to-odl-capabilities
