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Following
XRP Ripple's on-demand liquidity (ODL) and the Federal Reserve's FedNow service both address the liquidity needs of round-the-clock payment activities
Cryptocurrency researcher SMQKE used official documents from Ripple and the Federal Reserve to compare the two systems, focusing on 24/7 liquidity management. In an article on the X Platform, SMQKE wrote: "Yes, Ripple's ODL uses XRP to provide 24/7 liquidity management, which is exactly consistent with FedNow's requirements for private sector instant payment services." The researcher attached screenshots of documents from Ripple and the Federal Reserve to support their comparative views.
Ripple's documentation describes ODL as a mobility management solution for RippleNet customers. The system allows customers to transfer funds between different markets and currencies without having to pre-fund accounts in different markets. Ripple also said that ODL can reduce operating costs and free up working capital, while supporting continued cross-border settlements.
Thedocument clearly states that XRP is a bridging currency for ODL. According to the data, ODL obtains liquidity on demand and uses XRP to promote the real-time flow of funds.
Yes, Ripple's ODL uses XRP to provide 24/7 liquidity management, which is exactly consistent with FedNow's requirements for private sector instant payment services.
FedNow explains its liquidity management capabilities.
The second image in the SMQKE post comes from the Federal Reserve's documentation on FedNow services. The document discusses Liquidity Management Capabilities (LMT), which supports liquidity management for 24/7 instant payments.
美联储文档指出，FedNow实现了主账户之间的资金转账、主账户与联合账户之间的资金转账，以及用于私营部门即时支付服务的资金转账。文档还解释称，FedNow参与者可以授权服务提供商代表他们发起流动性转移。代理行也可以结算由参与的FedNow机构发起的流动性管理转账。
美联储银行将实施控制措施，以确保参与者仅将这些流动性管理转账用于即时支付的流动性需求。
SMQKE的比较核心在于两份文档都讨论了与持续运行的支付系统相关的流动性管理。研究者利用这些文档，将Ripple对ODL的描述与FedNow对私营部门即时支付服务中流动性管理的明确要求联系起来。
评论凸显不同解读
该帖子在评论区也收到了截然不同的观点。MEPH关注的是连续流动性基础设施的作用，而非XRP的价格目标。
MEPH写道：“没错——持久的论点在于24/7流动性基础设施，而不是价格口号。”
MEPH还提到了XRPL 3.4.0及其借贷能力。评论者表示，验证节点的激活以及可衡量的结算和借贷活动，将证明网络的可用容量是否能转化为实际采用率。
Jamie Williamson提供了对该比较的不同解读。Williamson指出，FedNow的流动性管理转账是在中央银行美元之间，通过美联储主账户进行结算的。该评论者还表示，这一过程与ODL使用XRP在不匹配的外币之间促进流动性的方式有所不同。
