US-based Coinbase highlights the usefulness of XRP in ODL as an important factor that makes coins attractive to financial institutions and payment providers.
Wrathofkahneman, a popular XRP community figure, called public attention to this development, shedding light on some subtle details of Coinbase’s submission to the US CFTC to self-certify the list of XRP futures contracts.
As reported earlier, Coinbase submitted its filing on April 3, 2025, noting that it plans to list XRP futures contracts on its derivative trading platform later this month. The broader XRP community praised the filing as an important move that could clear the potential launch pass for XRP Spot ETF.
XRP is attractive to financial institutions
While many community members focused on the impact of Coinbase’s self-certified XRP futures contracts, Wrathofkahneman shed light on the details of the filing disclosure.
The exchange noted that one of XRP’s main use cases revolves around its ability to promote cross-border settlements via Ripplenet and on-demand liquidity (ODL).
ODL defines XRP as a bridge currency to facilitate real-time currency conversion. The exchange emphasizes that this utility helps reduce the processing time and transaction costs of companies’ payments.
Based on XRP’s ODL utility, Coinbase noted that coins are attractive to financial institutions, money transfer services and payment providers looking for more efficient payment methods.
A closer look at Coinbase filing
Rathofkahneman questioned whether Coinbase’s XRP utility description is merely a Voilerplate Language or whether it has insider insight into the exchange.
Additionally, he noted that Coinbase mentioned Ripplenet’s ODL, despite revealing that Ripple had been replaced by crypto liquidity solutions in 2023. With Coinbase’s use of outdated details, Wrathofkahneman has raised questions about the source of the exchange.
Weed: So the filing of Coinbase #xrp futures, which is also r/t’d, is of interest in its disclosure.
> Coinbase has announced that XRP has become “XRP especially tempted to pay for FI, payment providers and companies. Do you know boilerplate or anything?
>…pic.twitter.com/woavyqlzvw– Wrathofkahneman (@wkahneman) April 8, 2025
In the meantime, CFTC is considering Coinbase’s request to self-certify its list of XRP futures contracts. Once the regulator approves the filing, the XRP futures contract will be launched on Coinbase’s derivatives platform on April 21st.
