Ripple has officially made it known to the public that it has invested in Mexican on-demand liquidity (ODL) cryptocurrency exchange, Bitso.
Through Twitter, the developer of the virtual token, XRP, released its official statement on October 14.
Ripple stated that Bitso plays an essential role in #RippleNet’s United States to Mexican corridor.
The company also mentioned that they are excited to grow their collaboration as they expand their reach in Latin America.
Ripple’s Twitter statement consists of a quote to the tweet of Asheesh Birla, the Senior Vice President of Product at the cryptocurrency organization, released on the same day.
Birla, whose Twitter handle is @ashgoblue, remarked that they are excited to reveal their investment on Bitso.
He cited in his tweet that Ripple and the Mexican ODL cryptocurrency exchange’s alliance dates back to 2014.
The Ripple executive added that they are honored to back their next level of expansion as they progress in Latin America.
Bitso is reportedly going to play a vital role in the liquidity of XRP/MXN.
Yesterday, the Mexican on-demand liquidity (ODL) cryptocurrency exchange witnessed a 10-percent surge in XRP liquidity, setting an all-time high.
The liquidity of Ripple’s virtual token on Bitso is presently 2.9 times higher than the Bitcoin liquidity.
This development is relevant as XRP is presently the leading cryptocurrency traded on the Mexican ODL cryptocurrency exchange.