Ripple ODL Registered in UAE to Provide Payments and Other Electronic Financial Services: Details
XRP community members @RipplePandaXRP and @WKahneman have posted tweets with an announcement of Ripple’s ODL trademark now being officially registered with the UAE Ministry of Economics.
The On-Demand Liquidity product has been registered with the Commercial department of the UAE regulator to provide P2P financial data services, according to the tweet.
According to the translation provided in the comments, Ripple has registered ODL to provide electronic financial services to do with payments involving fiat currencies, as well as exchange of digital and fiat currencies over the network.
It will also provide a virtual currency (presumably XRP) for exchange in a computer network and help verify payments and deliver them from senders to receivers.
According to the document, Ripple filed for registering ODL with the UAE regulator in October 2020.