Ripple Technology Helps Remittance Company Usage Increase 800% Overnight: CEO Interview


  • Ripple’s technology helped a company usage increase 800% in just a night
  • Brad Garlinghouse talks about Ripple and other financial companies

    The CEO of Ripple, Brad Garlinghouse, said during a conversation with Bloomberg that they are currently outperforming SWIFT and they would be happy if both companies decide to cooperate rather than competing. He has also mentioned that Ripple’s product helped a company increase 800 percent of its usage overnight.

Ripple Helps Companies Offer Better Services

Ripple is one of the most recognized and popular companies in the cryptocurrency market. The firm is working in order to offer cross border payment services to financial firms and other banks around the world.

This time, the CEO of the company, Brad Garlinghouse talked with Bloomberg about how it is currently outperforming SWIFT. SWIFT is the most common and used service to send and receive financial transactions. However, Ripple offers faster and cheaper ways to move money across borders. Garlinghouse said that he would be happy if both companies can serve the same goal and work together.

Mr. Garlonghouse explained that there are more than 100 banks around the world already using Ripple’s technology for transferring money. He has also explained that there is a firm that would start using Ripple’s technology for funds transferring. However, he said he would not be giving the name of this company.

There are some clients that have reduced the transaction fees from $20 to $2. After it, Garlinghouse revealed that there was a company that increased its usage 800% overnight after implementing Ripple’s services.

Ripple’s CEO has also shared his opinion about what banks should do to remain competitive. He said that they should adopt Ripple technology. This would clearly help them retain some of their clients that are now able to choose other companies to process cheaper transactions.

XRP remains the third largest cryptocurrency in the market. According to CoinMarketCap, XRP is being traded around $0.4 and it has a market capitalization of $17.13 billion.

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