Ripple renamed xRapid to ODL

On October 2nd, Ripple renamed xRapid, one of RippleNet's key products, to "On-Demand Liquidity" (ODL). Emi Yoshikawa, senior director of global operations and partnerships at Ripple, said that although the name was changed, the same mechanism was used for remittance information transfer, whether using ODL or traditional liquidity planning (pre-financing). Ripple said it will increase its investment in ODL, especially if the payment corridors in the Philippines and Mexico are operating. Previously, Ripple announced the acquisition of Iceland-based cryptocurrency trading company Algrim, which will help Ripple establish ODL.