- The team has been working nonstop due to the current market situation, says Ripple CEO.
- RippleNet drove $30 billion in payments in fiat and cryptocurrencies.
- Over 90% of the foreign currency markets are active on the company’s ODL system.
On Thursday, Ripple CEO, Brad Garlinghouse tweeted that despite the current market challenges, he is quite happy with the work his team has been doing to meet customer demands.
The team has been a steadfast supporter in focusing on customer assistance while delivering value globally. He is also confident that crypto will become much more powerful than it is now if the technology is used to solve real-world problems.
Yesterday Garlinghouse tweeted about a few of the most important things he said during his presentation at the London 2022 Ripple Swell conference.
Garlinghouse further added:
With all that’s happening in the past few weeks (and over the course of this year’s ups and downs), it feels even more imperative that we’ve gathered together in person to have honest conversations about solving real-world problems with crypto and blockchain.
Furthermore, he added, the main blockchain business from Silicon Valley, Ripple, has always taken the lead and will continue to do so in building trust and transparency in the cryptocurrency industry.
Ripple focuses on using blockchain technology to decode real-world problems, particularly those related to cross-border payments. Garlinghouse also emphasized some of Ripple’s successes in the international payments sector using blockchain and cryptocurrency technologies.
According to Garlinghouse, the company has driven over $30 billion in payments in fiat and cryptocurrencies using RippleNet, a global financial network technology.
MFS Africa, a leading fintech company, collaborated with Ripple to expand On-Demand Liquidity (ODL) coverage to Africa. The ODL is a Ripple product that uses XRP as a bridge currency for international payments. At the moment, nearly 40% of payout markets, representing 90% of foreign exchange markets, are live on ODL.
A number of financial institutions have collaborated with Ripple to utilize its payment solutions for cross-border transactions.
To bring RippleNet to Eastern Europe, Ripple teamed with the Lithuanian fintech firm FINCI in May. FINCI collaborated with Ripple to implement an ODL solution to facilitate cross-border payments in Mexico.
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