Ripple CEO: 10% of US remittances to Mexico are made by XRP

Ripple CEO: 10% of US remittances to Mexico are made by XRP

By ... | World of Crypto | 27 May 2020


Rapple Developer (XPR) chief Warren Anderson says the global payment company processes about 10 percent of US-Mexican corridor remittances through the XRP (ODL) payment platform. Speaking virtually at the Reimagine 2020 World Conference, Anderson noted that Ripple has slowly begun to release data on turnover in the world's third-largest corridor (the United States and Mexico).
Warren Anderson stated at the conference:

The United States and Mexico are one of the world's largest remittance transfer corridors, accounting for 10% of XRP's turnover.

Ripple's payments flow between the US dollar and the Mexican peso is provided by Bitso Mexican cryptocurrency exchange, which was formed in late 2018. The exchange said in March that it was processing 2.5% of transactions sent from the United States to Mexico. Bitso's chief financial officer, Barbara Gonzalez Brizno, attributed the success to her partner, a startup in San Francisco. Last month, Ripple CEO Brad Garling House announced that the XRP payment platform had processed $ 54 million in transaction volume from the United States to Mexico in the first week of February. He mentioned:

That's about 7.5 percent of the total turnover from the US dollar to the Mexican peso.

In a recent interview at the RI2020 conference, Anderson referred to Xpring's demographics, which are the arm of Ripple's development and fundraising. He says the initiative, which began as a mere investment tool, is now focused on helping engineers build and complete blockchain technology. He stated in this regard:

About 90% of the Xpring team is engineers. So we have about 45-50 programmers working all the time on open source software. Many have said, "Oh, Xpring is like Ripple's open source team," and I think that's a really good analogy.

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