Ripple’s ODL (Ripple On Demand) trademark has been officially registered in the UAE with the Ministry of Economy in Dubai. This announcement was made by XRP community members @RipplePandaXRP and @WKahneman who posted tweets. According to the tweet of WrathofKhfahneman, ” It is an announcement for the official registration of the Ripple on demand liquidity trademark with the government of UAE Ministry of Economics to provide P2P financial data exchange services.”
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. ODL leverages the digital asset XRP to bridge two currencies within seconds, ensuring payments are quickly sent and received in local currency on either side of the transaction.
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. Ripple had announced in October of 2020 that it sees UAE as a possible base for its operations. Then in November it actually opened its regional headquarters at DIFC.
So the latested Ripple on Demand trademark registration is a culmination of all these actions.
