Ripple CEO, Brad Garlinghouse has declared that the novel COVID 19 is a favor to some Ripple’s customers and XRP token. The CEO made this observation during the 20th episode of Ripple Drop yesterday, June 23.
The CEO said Ripple was quick to adapt to the changes in working conditions by giving stipends to its workers to buy work desks, computer systems, and some other things to be able to work from home.
He said Ripple made it clear to its customers that they are open to business throughout the quarantine period. The firms offered to serve its customers than ever this COVID-19 period, and Ripple has seen it played out with continued growth of volume across the RippleNet.
Brad said some customers have grown significantly while some have retracted a little bit, however, in general, Ripple continues to grow its businesses and it is satisfied with the present situation of the firm.
He said the whole market was a bunch of volatility, despite history affirming that the crypto space is a bit of a safe haven.
The CEO said of the whole crypto industry, Ripple has been in a lucky position to an extent because the firm planned ahead and has strong leadership. The CEO mentioned that Ripple and XRP are getting more use cases this period owing to the preparedness of the leadership team overseeing the affairs in the firm.
Brad Garlinghouse said he had averred before the COVID-19 that use cases that were without real customers not really trending in an appropriate way will be caught in the downdraft. He enjoined the crypto industry to be more prudent about business decisions to stay atop in any kind of situation even post-COVID. He said the present condition won’t change anytime soon.
The CEO said he had conversed with some of RippleNet customers and they confirmed they are seeing robust money movement. He also mentioned that digital-first businesses are seeing significant growth.
Brad Garlinghouse observed that Ripple has for long been playing the game, believing that the whole scene would be a marathon that will last long and not a sprint.
The CEO said the world is on the trend of moving from the fiat cash system into digital currency and this is happening quicker than expected. Returning to RippleNet, Brad said there has been a surge in payment volumes on the network as some countries with bigger wings are seeing drastic changes.
He said many of Ripple’s customers need On-Demand Liquidity (ODL) more than ever as Ripple continues to alleviate some of the problems encountered by them.
As well, Brad said more customers, as the pandemic continues, will have reasons to make use of RippleNet products and features.
Lately, more customers are trooping in to join RippleNet due to the outstanding performance of the solution. To expand Ripple’s innovation in the remittance industry, the firm jointly launched PayID to completely abolish the long and old account number ideas that have been in use in the financial industry for long.
