Ripple, a Californian FinTech company, came out with a progress report stating an optimistic growth momentum.
From their recent report, there are already more than 300 customers gained for RippleNet from across 45 countries. Based on the same report, a dozen from these hundreds of customers are currently using the ODL (on-demand liquidity) solution from Ripple, the xRapid. The services use XRP, a digital asset serving as a bridge currency for cross-currency, and cross-border financial transactions.
Based on reports from CryptoGlobe early this year, Ripple already announced acquiring 13 new RippleNet customers. The new list of customers brings their total customer number to more than 200 for their global payment network.
Less than a year later, Ripple has announced its customer increase. From a blog post from Ripple published the night prior to its annual Swell conference, which will be on November 7-8 in Singapore, RippleNet has currently expanded to more than 300 customers. According to the same post, there is also about ten times year-over-year growth for the RippleNet transactions.
As for the ODL solution of Ripple, xRapid, it currently has over two dozen of customers, which includes, goLance, MoneyGram, FlashFX, Viamericas, and Interbank Peru. Furthermore, great news for XRP fans, which is what xRapid is using, the amount of transactions that are using xRapid has also increased sevenfold from the end of the 1st quarter in 2019 to the end of October 2019.
From a statement made by the CEO of goLance, Michael Brooks, he said they want to make sure that freelancers get their payments on time and with very little fees, citing that as the reason for partnering with Ripple. According to him, goLance and Ripple partnership allowed them to use XRP and blockchain technology to answer the inefficiencies that cross-border payments currently experience. He said that with the partnership, they could make transactions cheaper, quicker, and more reliable to freelancers.
Viamericas CEO, Paul Dwyer, also shared the same sentiments, stating that Ripple’s ODL allows them to send payments in real-time and with minimal payment costs. Plus, it makes them more in tune with managing their liquidity more effectively and efficiently.
The CEO of FlashFX, Nicolas Steiger, has some great words about partnering with Ripple as well. As one of the earliest companies to adopt Ripple’s ODL solution, the CEO said that they’d seen the benefits and potentials of the product firsthand. According to him, it doesn’t only dramatically better customer experience when it comes to cross-border payments, but also greatly affect their bottom line as well.
CEO of Ripple, Brad Garlinghouse, said that from the year since they launched the ODL solution, it had made a lot of benefits for their customers, and Ripple is especially excited for the buzz getting more momentum as ODL expands to more markets next year.