According to Asheesh Birla, general manager of RippleNet, the company’s XRP-based payment platform called On-Demand Liquidity (ODL) processed billions of dollars over the past year.
According to Birla, RippleNet, Ripple’s network for institutional payment providers, had a strong 2020 as it processed around 3 million transactions, expanded into 18 new countries and signed 15 new contracts, even after the SEC filed a complaint against the San Francisco startup.
According to Birla, ODL handled a volume of US $ 2.4 billion in 2020.
We processed ~ 3 million transactions on RN in 2020, and ODL is growing rapidly. ODL transactions had a face value of $ 2.4 billion. We planted the RN flag in 18 new countries and signed 15 contracts after the SEC complaint was made public. 2/8
– Asheesh Birla (@ashgoblue) January 25, 2021
According to the SEC, Ripple illegally sold XRP as an unregistered security for years, accusing Ripple of using paying companies for using its line of products to make cross-border payments.
Brad Garlinghouse, CEO of Ripple, also touts the company’s successes despite the less than stellar ending to 2020.
“By numbers, RippleNet had a banner year. In 2020 we processed nearly 3 million transactions via RippleNet – this is almost 5 times the volume growth compared to 2019. On-demand liquidity continues to grow and scale – we recorded 12 times the growth over the previous year, and the Transactions in 2020 had a face value of ~ $ 2.4 billion.
The worldwide customer interest is still very high. The team continued to close new customer deals at the rate of two per week in more than 40 countries. “
Garlinghouse highlights the growing use cases of XRP, including the partnership with the Energy Web Foundation, an organization aiming to accelerate the use of blockchain in the energy space.
“RippleX contributed to XRPL version upgrades, created a tool with Energy Web that EVERYONE can use to decarbonize the blockchain of their choice (crypto can be sustainable!) And create new use cases for XRP with other industry participants.”
As for Ripple’s workforce, the payments startup’s head says he’s continuing to hire talent quickly.
“We added more than 100 new faces to the Ripple team, including several senior executives. We have an incredible, resilient team to tackle 2021 and beyond. “
According to Garlinghouse, the company has hired people with strong backgrounds from tech and finance companies like Apple, Tesla, Twitter, Amazon, and PayPal.
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