Ripple Will Utilize XRP To Expand Cross Border Payment Services

Ripple, a key participant in real-time gross settlement systems, has revealed intentions to expand its Ripple Payments offerings throughout the United States, according to Senior Director W. Oliver Segovia.

Going Global

With most of its business conducted internationally, Ripple aims to utilize its global standing to enhance services in the U.S. market. The upcoming product updates are expected to capitalize on the pre-existing expertise of Ripple in blockchain technology and payments, presenting streamlined solutions for cross-border transactions within the U.S.

To kick off this initiative, Ripple will organize a gathering at its recently established headquarters in San Francisco. The event will include a panel discussion led by Brendan Berry and Pegah Soltani, product heads, moderated by U.S. Managing Director Joanie Xie. Chief Technology Officer David Schwartz will also contribute to a discussion regarding the Ripple blockchain as well as its payments outlook for 2024.

Keeping Up With The Times

In line with its expansion strategy, Ripple is actively recruiting in various global locations, including Bangalore, San Francisco, Toronto, and London. Ripple Payments is a service utilizing XRP as a bridge currency, offering advantages such as rapid transaction settlements within seconds, cost-effectiveness compared to conventional methods, transaction transparency through a public ledger, and security through a consensus mechanism.

Moreover, despite maintaining a relatively subdued presence in the U.S. for the past three years, Ripple plans to introduce fresh updates to its products driven by its money transmitter licenses (MTLs), encompassing a significant number of states.

As of the time of this writing, XRP is trading at around $0.5, according to CoinGecko.