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Ripple Very Close To Overtaking Visa, Processed $13T in Payments Last Year
Ripple Very Close To Overtaking Visa, Processed $13T in Payments Last Year
Ripple processed more than $13 trillion worth of payments last year.
Brad Garlinghouse, the CEO of Ripple, made the claim during the Consensus conference by Coindesk.
The payments were processed on the Ripple Net ecosystem, which contains XRP, RLUSD, the XRP Ledger, Ripple ODL, and a few minor products by Ripple.
In comparison, Visa processed $16 trillion worth of payments last year.
Blockchain-based payment settlements are preferred over traditional fiat-based settlements because blockchain payments are faster, cheaper, and more efficient than traditional channels.