Ripple exec says 20% of RippleNet transactions occur using XRP
Asheesh Birla, SVP of product and corporate development at Ripple, has said that 20% of RippleNet transactions occur using XRP digital asset.
“Our On-Demand Liquidity (ODL) product using XRP as a bridge currency accounts for nearly a fifth of all transactions on RippleNet,” tweeted Birla, with the following chart:
Source: Asheesh Birla's tweet
The transaction volume of RippleNet or ODL is not known. RippleNet solution does not leverage XRP by default, but customers have an option to use it. ODL, on the other hand, leverages XRP by default.
Last November, Ripple said “more than two dozen” customers use its ODL solution, including MoneyGram and Viamericas. But most of these customers receive incentives from Ripple for utilising the solution, as The Block reported recently.
The ODL solution currently supports Mexico, the Philippines and Australian markets. Ripple recently said that support for Brazil is “coming soon,” as well as additional corridors across Asia-Pacific (APAC), Europe, Middle-East and Africa (EMEA) and Latin America (LatAm) are in progress for this year.
Last week, Ripple CEO Brad Garlinghouse, said: "Using XRP to solve a real-world, $10T problem, like cross-border payments, is working."
