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BDK Financial Holdings, a financial services company focused on serving underbanked communities, has announced a partnership with Ripple to integrate On-Demand Liquidity (ODL) into BDK’s digital banking platform. This integration will enable BDK's customers to make real-time cross-border payments using XRP.

The partnership aims to provide BDK's customers with faster, cheaper, and more transparent cross-border payment experiences. By leveraging ODL and XRP, BDK can settle payments in seconds at a fraction of the cost compared to traditional methods, which often take days and incur high fees.

BDK will also join RippleNet, Ripple's global network of financial institutions and payment providers. This membership will connect BDK to a vast ecosystem of partners, enabling BDK's customers to send and receive payments to and from over 40 countries and 10 corridors around the world.

“We are excited to partner with Ripple to integrate ODL into our digital banking platform and offer our customers the ability to make real-time cross-border payments using XRP,” said Raul Vazquez, CEO of BDK Financial Holdings, in a statement. “This integration will support our mission of providing underbanked communities with accessible and affordable financial services.”

The partnership is expected to launch in Q2 2023, subject to regulatory approval. Upon launch, BDK's customers will be able to send payments from the U.S. to Mexico, the Philippines, and other key corridors where RippleNet is present.

“BDK Financial Holdings is a leading provider of financial services to underbanked communities, and we are thrilled to welcome them to RippleNet,” said Brooks Entwistle, SVP of X-Border Products at Ripple, in a statement. “Together, we can make cross-border payments faster, cheaper, and more transparent for BDK's customers, who rely on efficient and affordable ways to send money abroad.”