Ripple Chief Legal Officer Stu Alderoty said that during the third quarter, the company plans to negotiate with U.S. financial institutions to resume support for the Ripple On-Demand Liquidity (ODL) solution for, for example, transfers from U.S. dollars to Mexican pesos.
“We hope that now, following Ripple’s partial victory in court, financial institutions in the Americas will be ready to start a dialog about the challenges their customers face in terms of moving value across borders and what benefits and opportunities an ODL solution will bring to financial institution customers,” explained Stu Alderoti.
Previously, Bank of America, American Express and Santander announced their readiness to test Ripple ODL technology for cross-border payments. However amid regulatory claims against Ripple the work of the project s partners has been suspended. In particular, due to “regulatory uncertainty” cooperation with Ripple has been suspended by MoneyGram, a major U.S. money transfer operator.
MoneyGram, a major U.S. money transfer operator.