RippleNet continues to grow and expand. In a new blog post, Ripple confirms there are now over 300 customers making use of this technology.
Ripple is not a traditional cryptocurrency company. Their focus lies in the financial sector. Underpinning products, such as RippleNet and On-demand Liquidity, cater to traditional financial service providers.
RippleNet Trucks Along Nicely
According to the company, RippleNet continues to gain traction. So much even that it now spans over 300 customers worldwide.
Additionally, there is a tenfold increase in yearly transactions over this network. That in itself confirms the potential of this service has gained a lot more recognition.
The commercialization of On-Demand Liquidity plays a crucial role This service leverages XRP as a currency to facilitate cross-border payments.
Notable partners making use of RippleNet and ODL include MoneyGram, FlashFX, and Interbank Peru. All of these service providers have incorporated RippleNet into their products and services.
As RippleNet continues to grow, so does the associated ecosystem. Payment corridors leveraging XRP now exist in Mexico, the Philippines, Australia, and soon Brazil.
As the customer base now spans clients across six continents, it is evident RippleNet has been a success. Primarily banks have taken a recent interest in what this technology has to offer.
Further advancing the growth is paramount. Ripple eyes expansion of ODL into APAC, EMA, and LATAM regions throughout 2020 and beyond.
As financial transactions become cheaper for operators, the customers will benefit in the long run.
Lower costs achieved through RippleNet or ODL need to be passed on to individual consumers sooner rather than later.