Ripple CEO Brad Garlinghouse says one-fifth of all transactions on its global payments network RippleNet are now performed using the crypto asset XRP.
In a live stream event during Ripple Swell 2020, Garlinghouse offered a number of updates on Ripple’s cross border payments network and its XRP-powered On Demand Liquidity (ODL) platform.
Garlinghouse says XRP and ODL are crucial to Ripple’s global expansion and its long-term success.
“In the three years that RippleNet has been live we’ve done over two million transactions with a nominal value of over $7 billion. We have hundreds of customers. We’re seeing the greatest traction across Asia… Now it’s also clear our customers are increasingly interested in emerging markets. This includes Latin America, Africa, and Asia Pacific. I also think we all can agree some of these regions were largely abandoned by traditional correspondent banking over the last decade…
It’s also clear to me that XRP is the