- Ripple’s ODL provides financial institutions with cheap, reliable, 24/7, and near-instant transactions via XRP.
- Ripple has helped SendFriend consumers save 80% on remittance and other payment fees.
David Lighton, co-founder and CEO of SendFriend, has been extremely generous with his praise for Ripple. According to Ripple’s blog post, Leighton stated that Ripple’s services have partly helped SendFriend in allowing consumers to save 80% on remittance and other payment fees. Ripple currently works with SendFriend to help facilitate payments.
Particularly, Lighton applauded the On-Demand Liquidity service by Ripple. According to Ripple, ODL provides financial institutions with cheap, reliable, 24/7, and near-instant transactions through XRP. ODL also acts as a bridge between institutions. SendFriend can allegedly source liquidity and cut the cost of transactions by upwards of 75% with the help of ODL.
Back in November, UK remittance firm TransferGo also announced plans to leverage Ripple’s On-Demand Liquidity. CEO of international payments specialist Mercury FX, Alastair Constance, praised Ripple at a recent event:
To really grow we wanted to target anyone who needs cross-border payments… When we discovered that Ripple could help us settle payments 100 times faster and at a fraction of the cost, it was a game-changing moment.
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