Natixis Lists Ripple in New Top 5 Cryptocurrencies Infographic
In Brief
- Natixis publishes a new infographic mentioning Ripple (XRP).
- RippleNet usage grew substantially during Q1 2020.
Natixis, a subsidiary of Groupe BPCE, one of the largest banking groups in France, has published a new infographic providing a brief overview of five different cryptocurrencies, including Ripple. The infographic notes the benefits as well as the increasing adoption of Ripple’s global remittance solution.
The fastest: Ripple (XRP)
Natixis –Infographic
Ripple was developed by a start-up in San Francisco in 2012, and aims to provide secure and virtually instantaneous international financial transactions at a low cost. Banks the world over are increasingly opting for this solution, such as UBS and Crédit Agricole, and Ripple’s blockchain technology has the particular advantage of being able to handle both fiat currencies and cryptocurrencies, along with other units of value i.e. precious metals, securities, etc. Transactions can be settled in less than four seconds, as compared with two to four working days for
traditional wire transfers, etc.
RippleNet Grows
RippleNet is Ripple’s flagship platform, enabling institutions to facilitate global remittance more quickly and cost-effectively. Over 300 financial institutions are currently part of Ripple’s RippleNet network. The platform has seen a massive volume surge in Q1 2020 as adoption continued to increase.
More specifically, Ripple’s On-Demand Liquidity (ODL) service volumes soared in Q1 2020. Ripple’s ODL service allows institutions to source liquidity through XRP. In addition to quick settlement times, institutions using ODL are not limited to traditional bank days or hours. Ripple’s ODL service itself has seen substantial growth throughout Q1 2020. According to Ripple, the ODL volume between Q4 2019 and Q1 2020 tripled.
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