RippleNet
Crypto ProtocolRippleNet — 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.
RippleNet is Ripple's enterprise payments network, connecting banks and payment providers so they can send money across borders on Ripple's infrastructure instead of the traditional correspondent-banking chain. In December 2023 Ripple folded the RippleNet brand into its "Ripple Payments" product line; "RippleNet" persists as the ecosystem's informal name for the same network (the underlying API is still referenced as the RippleNet API).
On-Demand Liquidity (ODL) is the specific feature that uses XRP as a bridge asset. Instead of pre-funding foreign-currency (nostro/vostro) accounts, a payment is converted into XRP, moved across the XRP Ledger in seconds, and converted into the destination currency on arrival — freeing the capital that would otherwise sit trapped in overseas accounts.
Ripple has aligned its payment messaging with ISO 20022 data standards and, more recently, offered its RLUSD stablecoin as an alternative settlement asset on some corridors — but ODL specifically is the XRP-bridging mechanism, and the source of XRP's clearest institutional demand story.
Crypto Relevance
RippleNet/Ripple Payments with ODL is the most concrete real-world XRP use case — positioning XRP and the XRPL as a bridge-asset alternative to SWIFT-style correspondent banking as banks migrate to ISO 20022.
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Join ISO 20022 investorsRelated Terms
ODL
ODL (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.
XRPL
XRPL (XRP Ledger) is the open-source public blockchain that XRP runs on, settling transactions in 3-5 seconds at a cost of fractions of a cent.
XRP Payments Module
XRP's designated role in ISO 20022 is as a real-time bridge currency for cross-border payment settlement, targeting the replacement of nostro pre-funding via ODL.
SWIFT gpi
SWIFT gpi is the cross-border payment tracking layer that adds a unique end-to-end transaction reference (UETR) to every payment message.
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Last reviewed: 2026-07-01