Ripple’s New IT Team in Iceland to Focus on New XRP-Based Product

Libra Coin News
Thu, 10/03/2019 - 13:27
Yuri Molchan
After Ripple purchased startup Algrim, the crypto giant plans to concentrate on developing On-Demand Liquidity with its new division 
Cover image via 123rf.com

A few days ago, Ripple purchased Algrim, a platform located in Iceland that specializes in digital trade and has highly skilled developers. The crypto behemoth hired its staff for its new ambitious project that would directly utilize XRP.

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A new XRP-based project

The new team will be engaged in building its new product dubbed On-Demand Liquidity (ODL).

The new product is going to utilize XRP for instant international payments.

As reported by U.Today recently, Ripple has updated its website and removed all links to its products – xCurrent, xRapid and xVia.

However, on the xRapid page there is now information about On-Demand Liquidity and a quote from Ripple’s partner MoneyGram about the usage of ODL. This made many believe that Ripple is conducting major rebranding, changing the name of xRapid to On-Demand-Liquidity.

Also, recently, Ripple bought the payment operator Logos, aiming to build the Internet of Value together with it.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.