- Swell 2019 Kicks off in Singapore
- RippleNet Exceeds 300 Users
The CEO of Ripple Brad Garlinghouse spoke on the focus, future, and momentum of Ripple and XRP as Ripple kick start its annual conference Swell. Ripple has exceeded 300 customers just in time for their third annual Swell conference. Last year during the Swell conference, Ripple announced its On-Demand Liquidity (ODL) previously known as xRapid leveraging XRP to remove pre-funding in cross-border payments. About two dozen customers have signed up to use the product and some of them already live in less than a year of launch.
Garlinghouse commented that “There has been a lot of skepticism about how XRP can be used for liquidity, and as the industry continues to try to find use cases around blockchain, we have more than 20 customers using XRP for cross-border liquidity and are benefiting from that.” He stated that while ODL was originally launched with passages into Mexico and the Philippines, they are now live in Australia, and will soon enter Brazil. “… We have more than 20 customers using XRP for cross-border liquidity …”
One of the world’s largest money transfer companies, Money Gram went live with ODL just two months after the release in June. After the success of ODL in Mexico, it has now been extended into the Philippines. Brad stated that they are now extending into new passages alongside Ripple.
RippleNet Exceeds 300 Users
“As we kick off the conference, we’re pleased with all the momentum. There are strong network effects: the more customers you have on the network, the more value in joining the network. And we certainly expect to continue to see that momentum build as we bring all of our customers together and they get introduced to each other. We expect more corridors to go live and continue to fuel that volume growth.”
For Ripple’s On-Demand Liquidity to be successful, healthy digital asset exchanges are required around the globe. Ripple recently invested in Bitso the largest digital asset exchange in Mexico with plans to extend its services into more passages in Latin America. Brad stated that ripple “wants to see companies like Bitso be very successful. This is one kind of public example of the kind of investments we want to make into digital asset exchanges to make sure they’re healthy, robust, and we will continue to look at opportunities like that.”
In light of last years’ Swell conferences, Ripple sent out invites to members of the XRP community. It established some mix-up between some XRP investors on social media who questioned how it uses Ripple to host both customers and XRP fanatics at the event as well as spreading speculations about potential announcements.