Ripple onboards 2 new customers/week for RippleNet, says GM

  • Ripple Labs and MoneyGram have together decided to “wind down” their current partnership agreement.
  • An average of two new customers are onboarded for RippleNet each week, according to GM Asheesh Birla. 

After Ripple and MoneyGram announced the suspension of their partnership a few days ago, the two partners now informed that they are “winding down” their current agreement. At the same time, however, MoneyGram and Ripple have also committed to “revisiting” a renewed partnership “in the future,” as Brad Garlinghouse revealed via Twitter.

As the Ripple Labs CEO also noted, the “lack of a crypto regulatory framework has unnecessarily muddied the waters for U.S. businesses and consumers.” Still, Garlinghouse describes the partnership as a great success. Together, the two partners have sent and transacted “billions of dollars” across borders via On-Demand Liquidity (ODL) using XRP. A blog post from Ripple added:

We are both committed to revisiting our relationship in the future. We still believe in the promise of digital assets and blockchain technology to change the status quo in global payments for the benefit of billions of consumers around the world.

Ripple signs two new customers per week

Meanwhile, Asheesh Birla, general manager of RippleNet, assured that strong growth continues to be recorded. The company is onboarding an average of two new customers per week for RippleNet while he predicts that it will be deployed globally once regulatory clarity is achieved, Birla said:

ODL solves a real problem for consumers left behind by traditional financial services, providing them with a low cost, fast, transparent and secure option. Regulatory clarity will come as govts understand the value in this tech for financial inclusion and instant settlement.

RippleNet continues to grow (~2 new customers/week), with a strong balance sheet allowing us to expand ODL, and pilot new solutions like LOC. As the world clamors for crypto-enabled services, we’re absolutely confident in RN’s product-market fit, monetization and global use.

In a comment under Birla’s tweet, respected XRP community member Leonidas Hadjiloizou questioned why Ripple changed its website representation “from 300+ to hundreds” of customers. As Hadjiloizou noted, this number has not been updated since the 2019 Swell update. Birla did not yet respond to rumors in the comments about whether Ripple has lost other customers besides MoneyGram.

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