Massive news coming out of Ripple. Ripple put out a document titled: ‘RippleNet Quick Guide Overview” which told us some pretty amazing information. The date of the upload of this document was just a few months ago, December of 2019.
On page 4 of this PDF, Ripple stated that they are currently Supporting 70+ countries and growing by one new country every week. There are a total of 195 countries in the world today. This total comprises 193 countries that are member states of the United Nations and 2 countries that are non-member observer states: the Holy See and the State of Palestine. According to Ripple they are currently supporting a little over 35% of the total countries in the world. This is absolutely massive news. ODL is not available in all 70+ but Countries where financial institutions who are live on RippleNet can currently send or receive payments.
Ripple goes on to highlight some of their biggest achievements, and the one that sticks out the most is on Page 10. TransferGo Offers Instant, Low-Cost Global Payments with help from Ripple. TransferGo is a U.K.-based international money transfer service operating in 47 countries and 22 currencies. TransferGo has 1.3 M Global customers, 3K Transactions per month in India alone and a 7 minute typical transfer processing time. Today, TransferGo processes more than 2,500 transactions a month in India, moving around two million pounds each year. Just to be clear, yes RippleNet is being used to send money in and out of India.
Just 1 year ago – Asheesh Birla stated:
“I think that in our pipeline we have probably 50 percent of the market in India, either integrated onto Ripple or in the deal, in the sort of pipeline to be signed to India.”
India is absolutely massive. According to Asheesh, onboarding the Indian market onto XRP is an important goal of Ripple. India has the world’s second-fastest growing economy after China, and is expected to be an economic superpower by 2030, according to a U.S. intelligence report.