Ripple is reporting a record-breaking burst in the number of transactions on RippleNet, the network of banks and financial institutions that use the company’s suite of cross-border payment solutions.
The San Francisco startup made the announcement while officially confirming its expansion to South America’s largest country, Brazil.
“Ripple is experiencing dramatic growth, adding an average of two to three new financial institutions to RippleNet each week. The company saw more transactions on the network in Q1 ’19 than it did in all of 2018. In 2019, Ripple is focused on growing its customer base and team in Brazil, and across South America including in countries such as Chile, Peru and Argentina…
In January, Ripple surpassed 200 customers on RippleNet. The company is experiencing rapid customer growth across all markets, and is launching in Brazil in response to high customer demand in South America.”