- Coinbase highlights XRP’s utility in On-Demand Liquidity (ODL) as a key factor making it attractive to financial institutions and payment providers.
- The exchange plans to launch XRP futures contracts on its Derivatives platform on April 21, 2025, pending CFTC approval.
Coinbase, the leading U.S.-based cryptocurrency exchange, has drawn attention to XRP’s utility within RippleNet’s On-Demand Liquidity (ODL) service as a crucial factor that makes the digital asset highly appealing to financial institutions and payment providers. This insight came to light following Coinbase’s recent filing with the U.S. Commodity Futures Trading Commission (CFTC), where the company seeks approval to list XRP futures contracts on its derivatives trading platform.
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XRP has long been associated with cross-border payments, and its role in ODL is central to its appeal. ODL utilizes XRP as a bridge currency to enable real-time, cost-effective currency conversion across borders. Coinbase emphasizes that this functionality significantly reduces transaction times and processing costs, making XRP an attractive solution for businesses and financial services looking to streamline global payment operations.
The filing, submitted on April 3, 2025, has sparked excitement in the XRP community, especially since it could potentially pave the way for the launch of XRP spot exchange-traded funds (ETFs). However, what piqued further interest were the nuanced details revealed by community figure WrathOfKahneman. He noted that while the filing highlighted XRP’s ODL utility, Coinbase also mentioned RippleNet’s ODL—despite Ripple’s 2023 announcement that ODL had been replaced by its Crypto Liquidity solution. This raised questions about whether Coinbase’s reference to outdated information was deliberate or based on outdated sources.
Despite this, the broader message remains clear: Coinbase views XRP’s real-world use case as a valuable asset, particularly in the realm of corporate payments, remittance services, and financial institutions. Its ability to reduce costs and enhance transaction efficiency is a key selling point.
As the CFTC reviews Coinbase’s request to list XRP futures contracts, the crypto community remains eager for further developments. Should the filing receive approval, Coinbase plans to launch XRP futures contracts on its Derivatives platform by April 21, 2025, marking a significant milestone for both the exchange and XRP’s growing influence in global finance.
