Nicolas Steiger, the co-founder of FlashFX, an international money transfer platform making use of Ripple’s On-Demand Liquidity (ODL), has said despite the effort pulled by Ripple Inc. Labs, XRP is an undervalued digital asset.
“The good news over the past year highlighted that the market still does not yet understand the value of XRP and what its trying to do and achieve,” Steiger made the note during an online Ask Me Anything (AMA) session on XRP Chat.
FlashFX makes use of Ripple’s ODL, a remittance solution dependent XRP token, to send money abroad using highly lower transaction rates compared to what SWIFT and other traditional financial institutions offers.
The AMA was organized not long after Steiger was interviewed by prominent XRP Crypto YouTuber, CryptoEri.
During the AMA, Steiger was questioned on several matters related to ODL. Interestingly, one XRP enthusiast asked whether XRP price would be set before adoption or the price increase slowly, as adoption increases.
Responding, the co-founder of FlashFX said it may not be possible for the price to be set in a free market and for Ripple to influence the price as widely discussed by some people.
Steiger said he preferred “a slow price increase as adoption of use cases grows,” inferring that there’s a link between the overall market environment and XRP token.
“All the good news over the past year highlighted that the market still does not yet understand the value of XRP and what its [sic] trying to do and achieve,” Steiger said.
He revealed that he is pragmatic and “can’t be bothered to argue if XRP is now a centralised and decentralised coins, if it really is a crypto or not, or any other reason why people talk down XRP”.
The co-founder of the Australian-based remittance firm said he’s only bothered about the use cases, the underlying technology and the efficiency gains of XRP, among its other profitable characteristics, hence FlashFX decision to make use of ODL.
Ripple to Introduce More Corridors
Steiger, when earlier asked the kind of growth expected of Ripple’s ODL in the next 1 to 5 years, said there is a high expectation that RippleNet would be expanded to drive ODL’s two-way flows to all available end-points.
“On a B2B side and our ability to process payments from RippleNet into Australia via NPP in real-time, we’re expecting to pinch a few high-profile contracts from bigger players who can only process same day AUD settlement,” he also added.
Talking on the number of corridors expected to be active next year, the co-founder of the remittance firm said he “thought it was possible to have 20 different send / receive end-points by end of the year in general.”
“For us, we are connecting to any available ODL destination and in the meantime will partner with any available RippleNet participant, for end of Q1 we will have 3-5 additional ones and the pipeline for Q2 is filling up fast with interested parties wanting to connect to FlashFX.”