RippleNet Saw a 5x Increase in Growth Before SEC Troubles

2021-1-26 18:18

In a Jan 25 report titled Ripple 2020 Momentum, CEO Brad Garlinghouse expands on the advancements the ecosystem has experienced over the past year.

According to the report, Ripple’s flagship solution RippleNet saw five times more transactions on its platform in 2020 when compared with 2019. RippleNet processed close to three million total transactions, a marked increase.

2020 was a banner year for @Ripple, despite a disappointing ending related to U.S. regulation (understatement?). We processed millions of RippleNet txns, grew ODL 12x YoY and signed 15 new customers after the SEC complaint. 1/3 https://t.co/2efIQDojU7

— Brad Garlinghouse (@bgarlinghouse) January 25, 2021 Platform Growth Coinciding With Industry Growth

The Asian Pacific market was one the biggest adopters of Ripple technology. It saw 80% year-over-year growth in new deals inked, said the report. Many of these Asian Pacific-based platforms have implemented RippleNet to facilitate money transfers, resulting in a regional increase in transactions of 1,700%.

This adoption coincides with the general growth of the cryptocurrency industry, a sector that took off in 2020 and propelled multiple projects to all-time high prices and user growth.

2020 was probably Ripple’s most successful year yet in terms of industry adoption. But recent charges brought against it by the SEC has proved a major hurdle for the company and its owners.

SEC Charges Stifling Ripple’s Growth?

RippleNet may have experienced substantial growth in the last year, but recent charges brought against Ripple Labs and two of its executives has crashed the xrp price. It has also sent the entire Ripple community into a frenzy.

The SEC alleges that xrp is not a commodity like bitcoin or ethereum but is a security. This has resulted in charges against the parties for the unlicensed sale of securities.

The SEC alleges that Ripple sold billions of dollars of unlicensed securities to fund its operations and for personal gain. The charges appear to have had deeply negative effects on the community.

Although some xrp owners are petitioning the SEC to drop the charges, the market had a swift reaction to the news. Many holders feel these new charges are not in their best interest, considering that Ripple has been operating for over seven years with no previous altercations,

Many cryptocurrency exchanges have delisted xrp or banned users from trading it. Even regulated exchanges and companies implementing RippleNet have reduced services, citing concerns around these charges.

Until these allegations conclude, Ripple will likely continue to struggle legitimizing itself in an industry advancing at breakneck speed.

The post RippleNet Saw a 5x Increase in Growth Before SEC Troubles appeared first on BeInCrypto.

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ripplenet transactions increase saw when 2020 compared

Источник: beincrypto.com

ripplenet transactions → Результатов: 34


Ripple Price Analysis - Transactions and active addresses slump

Fundamentals show decreasing transactions with decreasing active addresses over the past year, despite the numerous RippleNet partnerships and announcements. It remains difficult or impossible to determine if institutional or remittance use cases are reflected in the current on-chain metrics, or if these metrics are fueled purely by speculative demand.

2019-12-9 14:01


Ripple Price Analysis - Transactions active addresses flag

Fundamentals show decreasing transactions with decreasing active addresses over the past year, despite the numerous RippleNet partnerships and announcements. It remains difficult or impossible to determine if institutional or remittance use cases are reflected in the current on-chain metrics, or if these metrics are fueled purely by speculative demand.

2019-12-4 14:01


Фото:

Swell 2019: MoneyGram CEO Says 10% of Transactions Between Mexico and U.S. Use On-Demand Liquidity

In June 2019, MoneyGram, one of the world’s largest money transfer companies, announced its plans to implement On-Demand Liquidity (ODL) through RippleNet. Less than six months later, MoneyGram Chairman and CEO Alex Holmes announced on stage at Swell 2019 that the company is currently moving 10% of its transaction volume through ODL between the United … Continued The post Swell 2019: MoneyGram CEO Says 10% of Transactions Between Mexico and U.S. Use On-Demand Liquidity appeared first on Ripple.

2019-11-8 11:24


PNC bank goes live with RippleNet; becomes first-ever American bank to use its services

PNC Financial Services Group, Inc. has gone live with RippleNet on August 29, becoming the first-ever American bank to process cross-border payments, reported FintechFutures. The bank inked the deal with RippleNet in September 2018 and announced that its Treasury Management Unit would be using Ripple’s current software solution to carry out cross-border transactions.

2019-8-29 12:14


Ripple: MoneyNetint partners with Brazil’s BeeTech, attracts over 100 transactions in the first month

Ripple seemed to broaden its horizons by providing payment solutions to major Thai Banks such as Kasikorn and SCB, helping in the mainstream adoption of cryptocurrency. The joint venture of MoneyNetint and RippleNet back in October 2018 proved to be in the best interest of the MoneyNetint in order to provide a global payment solution […] The post Ripple: MoneyNetint partners with Brazil’s BeeTech, attracts over 100 transactions in the first month appeared first on AMBCrypto.

2019-5-26 22:30


RationalFX to Partner with Ripple for Making RippleNet-Based Payments To Over 200 Destinations

RationalFX, a foreign exchange United Kingdom-based firm, has recently started a partnership with Ripple, the creator of the XRP token and of cross-currency transfer initiatives like xRapid. According to the announcement of the company, it will be able to make cross-border transactions with over 200 locations using the help of RippleNet. This is an important […]

2019-4-5 03:46


Ripple Teams Up with India’s Bank of Dohfar by Going Live on RippleNet for Remittance Payments

Ripple has scored yet another point in its quest for world domination, this time in the middle east where the Bank of Dohfar has joined its platform to facilitate cross-border transactions. This comes just a few weeks after Ripple signed up the National Bank of Kuwait to its platform. The New was confirmed by Navin […]

2019-2-18 21:27


RippleNet’s ‘Multi-Hop’ Feature to Ease Cross-Border Transactions in S. East Asia

In traditional banking, for there to be a cross-border payment, two banks had to be directly connected on a one-on-one basis. The situation in the Association of South Eastern Asian Nations (ASEAN) was exactly this way up until the Siam Commercial Bank (SCM) –  a member of RippleNet – became the first financial institution in […] The post RippleNet’s ‘Multi-Hop’ Feature to Ease Cross-Border Transactions in S. East Asia appeared first on Ethereum World News.

2018-9-29 10:51


Фото:

RippleNet Extends Its Reach to 40 Countries for Remittance and SME Transactions

In a world with an ever-growing number of digital currencies and blockchain projects, Ripple is unique as it came with a predefined and much-needed use case. The blockchain technology was to be used to help large institutions like banks easily transfer money globally without going through the hassles of foreign exchange rates and days of […] RippleNet Extends Its Reach to 40 Countries for Remittance and SME Transactions was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-9-23 19:13


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