- Ripple has processed $30 billion in 20 million transactions with its global payments solution, RippleNet.
- RippleNet offers access to a global network with up to 70 payout markets, including India and Mexico.
Ripple Processes $30B in 20M Transactions Within 70 Payout Markets
Ripple, a blockchain technology company based in California, has disclosed that it has processed $30 billion in 20 million transactions using its global payments solution, RippleNet. Through a quick guide on how companies can streamline Treasury payments with RippleNet, the firm sought to encourage the use of its payments solution to enhance treasury payments for businesses.
Ripple’s payments solution offers access to a global network that covers several countries, including India, Brazil, the United Arab Emirates, Mexico, Singapore, the UK, and many other regions. These regions account for most of the global remittance volume, with India and Mexico having the highest volume of remittance inflows throughout 2022, boasting $100 billion and $60 billion in remittances, respectively.
"70 payout markets today, including new regions like Singapore, Malaysia, Poland, Indonesia, Thailand, Brazil, France, Sweded and more (up from 3 in 2020)"
From #Ripple's latest Quick Guide to Treasury Flows:https://t.co/GHpq1YUGkX pic.twitter.com/UgvWpTI0oX
— WrathofKahneman (@WKahneman) April 20, 2023
Ripple further highlighted that its payments solution has expanded to almost 70 payout markets globally, with recent additions such as Brazil, Singapore, Malaysia, France, and Sweden, representing up to 90% of the global foreign exchange market. In addition, data from the guide revealed that Ripple processed over $1 billion in transaction volume in the Asia-Pacific (APAC) region alone for the first quarter of 2022, with India and Singapore being among the countries in the region.
Treasury Flows with RippleNet
In addressing issues related to treasury flows, Ripple released a document highlighting three use cases for its RippleNet solution concerning three unique partners in each case. Treasury flow is one of these use cases.
In the report, Ripple pointed out that companies spend an estimated $3.5 billion to settle issues related to treasury flows, with up to $10 trillion in trapped capital for pre-funding purposes. Ripple seeks to address these issues with its payments solution. The firm highlighted Pyypl as a platform that leverages the solution to streamline its treasury flows.
Overall, Ripple’s global payments solution, RippleNet, offers a broad range of offerings that can help facilitate more efficient treasury flows for businesses. The firm’s extensive global network, coupled with the solution’s expansion to almost 70 payout markets globally, makes it a viable option for companies looking to streamline their treasury payments.
RippleNet’s Global Network
RippleNet offers access to a global network that covers several countries, including India, Brazil, the United Arab Emirates, Mexico, Singapore, the UK, and many other regions. Addressing Treasury Flow Issues Ripple seeks to address issues related to treasury flows with its payments solution, as companies spend an estimated $3.5 billion to settle these issues, with up to $10 trillion in trapped capital for pre-funding purposes.