Transaction volume for Ripple to explode by 600% in 2020 – Brad Garlinghouse

  • Brad Garlinghouse talks about the growth that the Ripple network will have by the year 2020.
  • A 600% growth in transactions and a 30-40% growth in the customer base is expected.

Ripple CEO Brad Garlinghouse talks about Ripple’s outlook for 2020. The company announced the raising of $200 million in a round of venture capital.

The financing was led by one of Ripple’s largest partners in Asia, SBI Holdings and other investment firms such as Tetragon and Route 66 Ventures.

Growth potential of the Ripple network in 2020

In an interview for “Balancing the Ledger”, Ripple’s CEO gave an update on the achievements and what can be expected from the company and its products in the coming year. Garlinghouse was quick to talk about the advantages of XRP over the traditional financial system and other cryptocurrencies such as Bitcoin.

Garlinghouse said Ripple would see a 600% increase in its transaction volume. This year the company reported that it has over 300 partners and customers worldwide. This customer base could increase by 30 to 40% during 2020 and lead to increased transactions.

One of Ripple’s partners is Moneygram. Garlinghouse further statet that Moneygram is using On Demand Liquidity (ODL), formerly known as Xrapid, in 15% of its operations. ODL is one of the products for instant cross-border transfers that uses the native Ripple XRP token.

Moneygram CEO Max Holmes said the following about Ripple:

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For the first time there is a technology available, that hast he potential to truly transform that capability and actually to move money with data which is to me just some kind of magical and this is what the future is all about.

Ripple (XRP) exceeds 500 employees worldwide and continues to open payment corridors

Moneygram is just one of the companies starting to incorporate Ripple’s products. Among its important allies is the SBI Group, with a broker in Japan managed by one of its trustees, Banco de Santander and other long-standing financial institutions.

On the other hand, it is necessary to highlight another of Ripple’s milestones in 2019. The company exceeded 500 employees worldwide. In addition, it still expects to expand to drive the adoption of Ripple’s cryptocurrencies and services.

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The price of Ripple is $ 0.19 USD and has had a slight downward trend (0.40%) in the last 24 hours.

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About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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