The much-loved Ripple’s yearly conference Swell has commenced and CEO Brad Garlinhouse has given a speech on the present performance of the company in comparison with the previous year. He has also spoken about the company’s focus and target. There, he illustrated how RippleNet is growing at an exponential rate, stressing particularly on the firm’s 2019 performance.
Garlinhouse in his statement said the number of transactions performed on RippleNet in October 2019 alone is more than all performed in the whole of 2018.
“We’re seeing 10X growth on a year over year basis. RippleNet saw more transactions in October than we did in all 2018,” Garlinhouse said.
The CEO of Ripple furthered that the firm now adds 2 to 3 customers per week. Garlinghouse in his remark referred to a press release published by Ripple moments before the conference commenced. In the release, it was stated that Ripple has exceeded 300 customers.
Ripple keeps extending its tentacles around the globe and 2019 looks to be more favorable for the Fintech company. Ripple’s On-Demand Liquidity (ODL) has within a year of its commercialization seen tremendous adoption from customers.
RippleNet service is now being used by customers in over 45 countries and 6 continents of the world. The Ripple-based innovation also has payout capabilities in 70+ countries, the release confirmed.
Of Ripple’s Over 300 Customers, 2 Dozens Use XRP through ODL
Out of the 300 customers now making use of RippleNet globally, 2 dozens make use of XRP via on-demand liquidity, previously known as xRapid.
The innovation was first announced at the Swell 2018 and was adopted by many financial institutions afterward. ODL is increasing the adoption of XRP as it depends solely on the token for cross-border remitting.
As we are entering day two of Swell 2019 in Singapore, an annual event organized by blockchain remittance firm, Ripple, the world is expecting to know more about what the US firm is doing in the remittance industry.
Ripple, over the years, has been a disruptor in the remittance industry with its unmatched blockchain remittance network. The technology is putting the likes of SWIFT on the run and has been adopted by MoneyGram after an investment deal by Ripple. Ria and other notable remittance firms are buying the RippleNet idea.