Bitcoin exchange Bitstamp based in Luxembourg is moving one step further to the simplicity by adding support for the fiat deposits via Ripple-powered technology.
The exchange customers from now on are able to instantly replenish their accounts with the U.S. dollars thanks to the Australian company FlashFX that opened a new payment corridor in the Ripple On-Demand Liquidity (ODL) system, which uses the XRP token for transactions.
ODL allows converting Australian dollars to the U.S. dollars, which is afterward sent to a Bitstamp user account through an address in the Ripple system.
FlashFX CEO Nicolas Steiger said:
“As one of the earliest adopters of Ripple’s On-Demand Liquidity, we’ve seen the benefits firsthand of the product and its potential to not only dramatically improve…