Ripple has reported record growth in transactions on the RippleNet network in 2020, as well as signing a contract with 15 new RippleNet clients, despite the SEC lawsuit.
According to an official statement from Ripple CEO Brad Garlinghouse, RippleX now reaches over 12 million users worldwide through the XRP Ledger (XRPL) ledger, Interledger Protocol and Ripple partners.
Garlinghouse noted that the company has hired new talent every quarter of 2020 to expand its global presence. In addition, he noted the growing interest of global clients and developers in RippleNet and RippleX.
Based on the numbers, RippleNet has had a successful year. In 2020, we processed almost 3 million transactions through RippleNet, which is almost a 5-fold increase compared to 2019. On-Demand Liquidity continues to grow and scale, we experienced 12x year-over-year growth and transactions in 2020 had a notional value of $ 2.4 billion.
Customer interest around the world remains very high, so the team continued to make new deals with customers at a rate of 2 deals per week in more than 40 countries, 18 of which are new to RippleNet, the official statement said.
Despite all the troubles of recent weeks, earlier this month Ripple announced a new partnership with Malaysian mobile wallet company Mobile Money and Mutual Trust Bank. 2020 was the best year for the company in terms of new partnerships, thanks to record consumer demand and transaction growth.
The growing demand for digital financial services and payments interoperability in the Asia-Pacific region is driving the continued adoption of RippleNet among the multitude of SMEs, fintechs, and Internet service providers in the region.
As such, it has become our busiest market in terms of both customer demand and transaction growth. In 2020, the number of new partner projects grew by 80% year on year, transactions – by 1700%, the company said.
XRP is currently trading at $ 0.26, having lost 4% of its value in the last 24 hours.
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