- Ripple has amassed more than 300 clients for RippleNet
- Ripple’s on-demand liquidity a huge commercial hit
- Vietnam’s TPBank the latest to join RippleNet
In a blog post published on November 6, 2019, enterprise-grade payments transfer firm Ripple Inc. announced that it had surpassed 300 customers.
Tremendous Customer Interest in Ripple
The third-largest cryptocurrency by market cap, Ripple’s XRP has had nothing short of an eventful 2019. Now, as the year draws to a closure, the altcoin’s parent firm, Ripple, has announced that it has exceeded 300 enterprise clients for its cross-border payments network – the RippleNet.
According to the announcement, RippleNet witnessed 10x year-over-year growth in terms of transactions executed during the time period 2018-2019. The enterprise-geared blockchain-enabled payments solution allows Ripple’s clients – mostly comprised of banks, financial institutions, and payment providers – the ability to send, receive money from anywhere in the world for “fractions of a penny.”
Brad Garlinghouse, CEO, Ripple, commented on the year 2019, saying:
“This year has been our strongest for Ripple yet. In 2019 we’ve seen continued momentum with customers, growth of RippleNet and adoption of On-Demand Liquidity. In just a year since we launched ODL, we are already making an impact on the bottom line for our customers. We’re excited to continue this momentum into next year and for the expansion of ODL into new markets.”
ODL Proving to Be a Hit Amongst Customers
The announcement mentions Ripple’s On-Demand Liquidity (ODL), another offering by the San Francisco-based firm that helps customers leverage XRP as a bridge currency to do away with the need for pre-funding in cross border payments.
Launched in late 2018, Ripple’s ODL offering has been successful in finding clients from across the vast financial industry. Per the blog post, two dozen customers have already signed up for the offering. Some of the notable heavyweight clients include the likes of MoneyGram, goLance, Viamericas, FlashFX, and Interbank Peru.
As reported by BlockchainReporter on November 5, 2019, major Vietnamese bank TPBank had partnered with Ripple to use the latter’s RippleNet for enterprise-grade payments.