Ripple has been making increased efforts to boost the XRP ecosystem in 2019.
The San Francisco-based company also underwent a rebranding process for most of its products, and we already reported that xRapid, for instance, became the product called On-Demand Liquidity.
On-Demand Liquidity use is on the rise
Ripple and XRP have been enjoying a great year so far, and the company said that the number of customers who have been using On-Demand Liquidity aka xRapid, which uses XRP to power cross-border transactions surged a lot in Q3 2019.
In its new XRP Markets Report, Ripple outlines the latest numbers on the payment solution, formerly known as xRapid.
“Ripple customers live with ODL, including MoneyGram and others, increased by 75% last quarter and dollar volume on ODL increased more than five times from Q2 to Q3,” according to the official notes.
The report also reveals the fact that “In addition, Ripple announced its acquisition of team Algrim to support the ongoing development of ODL.To keep up with strong customer demand, Ripple is rapidly expanding its team on a global scale—Iceland will serve as one of Ripple’s engineering hubs with plans to bring on more technical talent in Europe.”
Ripple reveals the first use case for XRP and crypto
According to Ripple, there’s a lack of regulation on the digital assets that could trigger an exodus of tech talent away from the US, according to the latest reported revealed by the online publication the Daily Hodl.
Now, in a brand new piece on blockchain innovation, Ripple’s head of Global institutional markets, Breanne Madigan said that the first clear use case for the crypto XRP and digital assets is in the payments industry.
Other than that, Ripple also talked about some issues regarding the price of XRP in 2019 and slammed some accusations claiming that the company is to blame for the price of the digital asset not surging this year.
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