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Amsterdam
28 March 2024
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Ripple ODL Registered in UAE to Provide Payments and Other Electronic Financial Services: Details

According to a document shared on Twitter Ripple has registered its ODL product with the UAE regulator to provide electronic financial P2P services in the country.

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.

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Image via Twitter

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.

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