ODL
Crypto ProtocolODL (On-Demand Liquidity) is Ripple's cross-border payment product that uses XRP as a real-time bridge currency to eliminate pre-funded nostro accounts.
ODL converts the sender's fiat currency into XRP, moves XRP across the XRPL in 3-5 seconds, then converts XRP into the destination fiat, all in one near-real-time operation. The key economic insight is that banks currently lock up billions of dollars in nostro accounts (pre-funded foreign currency reserves) to service cross-border payments. ODL eliminates this by using XRP as on-demand liquidity, freeing that trapped capital.
SBI Remit launched RippleNet's first live ODL implementation in Japan in July 2021, using XRP to reduce pre-funding for payments from Japan to the Philippines. MoneyGram is a cautionary example: Ripple and MoneyGram announced in March 2021 that they were ending their partnership. We could not verify current corridor counts or volumes.
From an ISO 20022 perspective, RippleNet appears on ISO's Registration Management Group member list and Ripple says the network has been aligned with the standard since the start, but we could not verify how ODL flows map onto individual ISO 20022 message types, and the XRP token itself cannot be ISO 20022 compliant.
Crypto Relevance
ODL is Ripple's flagship use of XRP as a bridge asset. The XRP profile lists whether payments relationships turn into sustained on-chain volume as an open question, because partnerships announced years ago do not by themselves show current usage.
Related Terms
XRPL
XRPL (XRP Ledger) is the open-source ledger that XRP runs on, which xrpl.org says settles transactions in about 3-5 seconds for fractions of a cent.
RippleNet
RippleNet — rebranded "Ripple Payments" in late 2023 — is Ripple's global network of financial institutions that settle cross-border payments using Ripple's technology, with XRP as an optional bridge asset.
Nostro/Vostro Accounts
Nostro and Vostro accounts are correspondent banking accounts banks maintain at each other to pre-fund cross-border payments — the trapped capital that ODL aims to eliminate.
pacs.008
pacs.008 is the ISO 20022 interbank credit transfer message that replaces the legacy SWIFT MT103.
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Last updated: 2026-09-29