DeWitt referred to the fact that Ripple’s Mexican partner exchange, Bitso, processes over 2.5% of the total U.S to Mexico cross-border remittance that is handled daily.
A few weeks ago, they celebrated a milestone for onboarding over one million customers. The director of the exchange, Santiago Alvarado expressed his happiness over this success stating that Ripple stands out in the decentralized financed industry. The impressive turnover of Bitso is also going to attract more customers to use Ripple’s cross-border solutions. In his words;
“I think Ripple stands out, especially with the work we’re doing with Bitso as a company that is delivering real utility today that is affecting people’s lives in a way outside of just speculative trading. If that’s attractive to you, reach out to us because we are so hungry for talent in this space. We’re growing so fast. We need people to join that journey with us and help us do it.”
At the time of writing, the price of Ripple XRP was $0.276963. It is up by 0.97% against the USD and up by 0.05% against Bitcoin BTC. The trading volume over a 24 hour period was $1,025,942,862 and the market capitalization was $12,461,902,915. The token has managed to move above the $0.2700 level successfully after the recent drop below $0.2600. If the token moves above the $0.2850 level, it will move higher against the USD near-term.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- Ripple Executes Plans Expand Cross-border Remittance
- Ripple XRP Moves Above the $0.2700 Support Ones Again, Consistent Bullish Pressure Might See the Token Crossing More Resistances Near-term
Ripple has made a lot of progress in the United States to Mexico remittance corridor and the company believes that it is ready to expand this remittance success to every part of the globe.
The company’s executive Craig DeWitt, during his recent conversation with Reed Catalado, said that they have already started executing their expansion plans. If this happens successfully, Ripple might have what it takes to achieve global adoption and take a large cut from SWIFTS market capitalization.
Ripple to Achieve Global Adoption In the Remittance Sector
In Craig DeWitt’s words;
“We have a game plan, and we’re going to roll that out into multiple jurisdictions around the world, and we’re going to escalate the speed with which we’re able to do that. I love liquidity. I think liquidity begets liquidity. I think success begets success, and the markets where we’re seeing that, we’re going to replicate that and grow that footprint and improve peoples’ lives in multiple jurisdictions, not just the Philippines, Europe, and Mexico, but all around the world.”