Some Ripple supporters have noticed that the San Francisco-based financial firm deleted the section “On-demand Liquidity” (ODL). Ripple Vice President Emi Yoshikawa explained the decision. Ripple has consolidated its ODL services under the term “Ripple Payments,” according to Yoshikawa’s statement from September 15, 2023, because the term ODL might be “difficult to understand at first glance for outsiders.”

The VP assured that this unexpected “rebranding” won’t affect how ODL processes work. The VP of Ripple confirms that the missing “ODL services” part on the company’s website changed its name to “Ripple Payments” for clarity. He noted that all other essential functions are still available.

For those who are unfamiliar, ODL (On-Demand Liquidity) from Ripple is a cross-border payment solution for quick and affordable transactions. One of Ripple’s services that financial institutions most frequently use is ODL. ODL employs XRP as a settlement bridge currency.

Ripple recently took the ODL section off of their main website. Investors and market participants expressed alarm about the action. Users, including Daikoku, an early XRP investment, voiced their worries.

Ripple Has Consolidated its ODL Services By Rebranding

Ripple Has Consolidated its ODL Services Under a New Term “Ripple Payments”

In response to Daikoku’s remarks, Emi Yoshikawa, VP of Strategy and Operations at Ripple, clarified the issue. Yoshikawa claims that ODL was not overturned from the internet but rebranded as “Ripple Payments.”

She clarified that the rebranding aimed to make the service more approachable and understandable for people unfamiliar with crypto terminologies.

The branding signifies a change from the terminologies used in the crypto industry to more typical phrases. It fits a general industry trend whereby cryptocurrency businesses use standard language for their services.

Users should anticipate Ripple Payments to function just as ODL did despite the rebranding. Instead of changing its services, the branding seeks simplification and widespread adoption.

The Network of Partners for Ripple Expands

Ripple Has Consolidated its ODL Services Under a New Term “Ripple Payments”

Notably, Ripple’s network of partnerships has only expanded. Ripple’s payment services are used by prestigious financial organizations such as Tranglo, Moneygram, SBI Remit, and Pyypl.

Tranglo recently estimated that 2022 ODL consumption will climb by more than 1,700%. Tranglo’s ODL volume surged from $53 million to $970 million between 2021 and 2022. Furthermore, it reached $2 billion in the first half of 2023.

Ripple and Tranglo will collaborate to bring their services to three additional nations. They consist of Indonesia, Vietnam, and the Philippines. Through its broad global partner network, Ripple will support smooth fund transfers.

Enhanced scalability, cost-effectiveness, and speed have only increased the popularity of Ripple’s payment solution. No services are altered because of the rebrand. Instead, it makes it simpler for everyone to comprehend how Ripple’s services work.