Fiona Murray, the Vice President of Sales for Asia-Pacific at Ripple, has disclosed that over 500 companies are actively leveraging Ripple’s payment solutions, utilizing XRP as a bridge to facilitate seamless cross-border payments.
Empowering Cross-Border Payments with Ripple’s Vision
Murray, emphasizing Ripple’s commitment to utility, underscored the company’s focus on providing tangible solutions for the financial sector.
She stated, “Ripple believes in utility. Ripple has always taken that baseline technology, and we’ve said from the beginning that every technology needs a use case. For us, the very clear use case is payments.”
Murray shed light on the XRP Ledger (XRPL), an open-source, public blockchain purpose-built for payments. This cutting-edge technology has become the linchpin for Ripple’s transformative solutions in cross-border transactions.
A Growing Network: 500+ Organizations Embrace Ripple’s Solutions
In a significant milestone, Murray revealed that more than 500 companies, including prominent financial institutions, are actively collaborating with Ripple. Many of these organizations have integrated XRP into their operations, utilizing it as a bridge currency for seamless cross-border settlements.
Despite Murray’s discretion in naming specific clients, it is known that influential players in the banking sector, such as Bank of America, have embraced Ripple’s payment solutions.
Murray expressed optimism regarding the future, speculating that a growing number of companies will adopt Ripple’s payment solutions. While the VP did not disclose specific details, Ripple’s track record and established partnerships, such as the one with Onafriq (formerly MFS Africa), showcase the company’s sustained impact in the payment sector.
Ripple Payments: Evolution of On-Demand Liquidity (ODL)
Recently, Ripple rebranded its On-Demand Liquidity (ODL) solution to Ripple Payments. This strategic move aims to enhance user-friendliness while retaining the core functionalities that have made Ripple a go-to choice for financial institutions.
This rebranding aligns with Ripple’s vision to streamline cross-border crypto payments, exemplified by its latest partnership with Onafriq to facilitate transactions between Africa and markets like Australia, the UK, and the Gulf Cooperation Council (GCC).
In one year, Ripple emerged as an innovative force, reshaping global cross-border payments with unparalleled effectiveness and visionary solutions.