Rajarshi Mitra
Independent Analyst
- goLance has rolled out Ripple’s XRP-powered cross-border payments platform, On-Demand Liquidity, to pay its users.
- Brooks said that the cross-border payment product reduces costs for customers who used to rely on wire transfers earlier.
goLance, a freelance marketplace, announced that it’s now using XRP to fuel payments on its network, which has over 500,000 users across the globe. The firm stated that it has officially rolled out Ripple’s XRP-powered cross-border payments platform, On-Demand Liquidity, to make payments to its users.
goLance CEO Michael Brooks said:
I get on planes to places like the Philippines and meet these people face-to-face. That’s helped me see first-hand why freelancers are hyper-sensitive about the cost and time it takes to be paid. RippleNet’s On-Demand Liquidity gives us the ability to make hyper-efficient, low-cost payments that make our customers happy and drive growth for our business.
goLance became a member of RippleNet a few months back but did not clarify if the firm would leverage ODL. Brooks said that the cross-border payment product reduces costs for customers who used to rely on wire transfers earlier. This new partnership of goLance with Ripple also allows the company to build relationships with banks and establish new payment corridors within a two-week timeframe. Earlier, this process used to take up at least six months.
Brooks added:
Ripple does all the hard work to open up challenging corridors so we can provide faster, cheaper #payments that help #freelancers provide for their families, deliver for their #clients and grow their #businesses as we grow ours.
The CEO also says XRP offers his business advantages that Bitcoin doesn’t.
Our job is to make sure that people can buy groceries. That’s why we chose a stable, utility-based digital asset like XRP. We could have used Bitcoin but its value is too volatile and the recipient has the extra step of converting it to their fiat currency. If there’s a problem, I can’t call Bitcoin. Ripple is a service provider. I’ve visited their offices all over the world and work with their teams to make our payments experience faster and more efficient.
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