Ripple Now Has 120 Clients, Consisting Of Bank of America– With Numerous Making Use Of XRP

Express News

By Express News Desk|Updated: August 22, 2018

So far, 2018 has actually been quite a year for Ripple. The company says it now has a total of 120 consumers on its network, RippleNet. The group is signing production agreements at a record rate, adding 20 brand-new firms this year alone.

Some of Ripple’s high profile clients include Bank of America, Credit Agricole, Mizuho Financial Group and Santander.

RippleNet is a network of banks and payment providers that use Ripple’s blockchain to procedure payments, including the option to take advantage of XRP, Ripple’s digital property, to lower liquidity expenses and improve speed.

“We’re seeing clients like Western Union, Moneygram– they’re leaning in and using our tools to fix a payment issue. And this payments issue is determined genuinely in the trillions of dollars,” Ripple’s CEO Brad Garlinghouse told CNBC’s Power Lunch.

Ripple is likewise highlighting the success of its partnership with Santander. The Spanish banking giant recently launched its Ripple-powered OnePay FX app, and says 50% of its international transfers are now powered by RippleNet.

Santander states it’s simply starting with OnePay FX. The app, which permits its customers to send out same-day cross-border payments, will be expanded to almost two dozen countries in the near future.

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