The name change in Ripple surprised those who saw it. Users visiting the website saw that the ODL section was removed and a new section was added under the title “Ripple payments” and questioned the reason for this change.
New era in Ripple
Ripple has renamed the “ODL” (On-Demand Liquidity) section on its official website to “Ripple Payments” in order to streamline its services and increase accessibility. It was noted that this move aims to make the cross-border payment solution more user-friendly while preserving the company’s core functions.
Introduced in 2018, Ripple’s ODL has been recognized as a significant offering that provides instant and cost-effective solutions for cross-border transactions, especially preferred by financial institutions. Using XRP as a bridge currency, ODL has played a critical role in simplifying the complexity of international money transfers.
On the other hand, the recent removal of the ODL section from Ripple’s website was met with surprise among market participants and investors, with users questioning the reason behind this change.
The reason was revealed
Ripple’s Vice President of Strategy and Operations, Emi Yoshikawa, responded to these concerns and cleared up the question marks. Yoshikawa explained that, contrary to the belief that ODL has been eliminated, it has been rebranded as “Ripple Payments.” He also stated that the primary goal of this rebranding is to make it more understandable for individuals less familiar with cryptocurrency jargon:
“ODL is a word that is difficult to understand at first glance for outsiders, so we decided to combine it into the term Ripple payments. “This symbolizes the transition from crypto jargon to colloquialism.”
Yoshikawa specifically explained that despite the rebranding, Ripple Payments will continue to operate exactly as ODL does. He added that the rebranding is about simplifying and facilitating mainstream adoption without changing the core services provided.
However, amid these changes, Ripple’s ODL partnership network has continued to thrive, with a presence in more than 55 countries around the world today. Well-known financial institutions such as SBI, Moneygram and Pyypl have embraced Ripple’s payment services with open arms.
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