Extended Interview OnDemand Liquidity

what is on-demand liquidity on-demand liquidity is a way for our customers to send fast low-cost payments without having to pre-fund the destination account today's correspondent banking network is so slow that in order to deliver a fast experience you have to pre-fund accounts in the destinations in which you're sending money to you're storing capital like cash really in those accounts for days at a time and that's highly inefficient it's a poor use of money and so on demand liquidity puts XRP in the kind of in the middle of that payment from one country to another country to allow for the ability to send payments instantaneously or near instantaneously without having to have funds already available in the destination account so where is on-demand liquidity available so in the received countries that we have available right now are in Mexico Philippines why Philippines are Mexico is because those are very large received side countries when it comes to remittances 31 billion dollars every year going into Mexico 33 billion dollars every year going into the Philippines so we believe that there's a large amount of demand there and also the types of payments that people are making into these these countries like Mexico and Philippines from the US and Europe and parts of Asia are really to cover necessities food rent school fees for their children and so this is a really high-impact cross-border flow and the first of many corridors that we will open up this year why are customers interested in using on-demand liquidity there's really two main reasons speed and low cost and we've talked about both of those but speed element is because XRP settles every three to five seconds the ability to do cross-border settlement instead of two or three days in two or three minutes and 2n is a huge value proposition for not just our customers but for their customers actually send me money who want that speed and expect that speed the second thing is low cost so the ability to not have to pre-fund all these accounts around the world means you can use that capital which you would other otherwise have had in various bank accounts to put to good use marketing your products lowing the cost of your product to the end-user it's about growing your business as a result of having essentially more access to capital rather than keeping it trapped in bank accounts