Ripple reveals in a new report that over 3 million transactions were processed over RippleNet in 2020.

Ripple revealed in a new report that the company had a record-breaking 2020 with significant growth in RippleNet transactions.

Ripple, a San Francisco-based blockchain services provider, announced that they had a record-breaking 2020 with significant growth in RippleNet transactions. The blockchain payment firm also reported the signing of 15 new RippleNet customers to close out 2020 despite the SEC’s lawsuit. According to an official announcement by Ripple’s CEO, Brad Garlinghouse, RippleX now reaches more than 12 million users around the world through XRP Ledger, Interledger Protocol, and Ripple’s partners. Ripple is also facing a lawsuit from the SEC for allegedly issuing unregistered security; XRP. 

 

“Ripple has continued to expand its global footprints.” 

Ripple CEO Garlinghouse also pointed out that the company has been fortunate enough to hire in every quarter of 2020 to expand its global footprints with the addition of top talent to Ripple’s leadership team. Additionally, the CEO also mentioned the growing interest of global customers and developers for RippleNet and RippleX. “By the numbers, RippleNet had a banner year. In 2020, we processed nearly 3 million transactions over RippleNet; this is nearly 5X volume growth compared to 2019,” the official announcement read. 

 

Ripple experienced 12x year over year growth for its On-Demand Liquidity.  

“On-Demand Liquidity continued to grow as the firm experienced 12x year over year growth, and transactions in 2020 had a notional value of $2.4B. Customer interest globally remains very strong. The team continued to close new customer deals at a rate of 2 per week, across more than 40 countries, 18 of which are new to RippleNet,” the official announcement noted. Despite all the challenges that the lawsuit brought in recent weeks, Ripple announced new partnerships earlier this month with Mobile Money, a Malaysia-based mobile wallet company, and Mutual Trust Bank. Last year was the best year for the blockchain company in terms of new deals due to record customer demand and transaction growth.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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