Ripple, a leading crypto payment company, recently released an ad promoting the use of XRP in the rapidly growing cross-border payment market, which is expected to exceed $300 trillion in the next six years.
The advertisement has caught the attention of the XRP community, with Edoardo Farina, Head of Social Adoption at XRP Healthcare, sharing it on social media platform X yesterday.
In the ad, Pegah Soltani, Ripple’s head of Payments Product, explains the benefits of blockchain-based payments. She highlights the massive volume of international money transfers each year, projected to reach $300 trillion by 2030.
Despite the expected increase in cross-border transactions, Soltani expresses concern about the current inefficiencies in global payments, such as high costs, slow transfers, and errors. However, she remains optimistic about Ripple’s innovative approach to revolutionizing global value movement using blockchain technology and digital currencies like XRP.
Soltani provides a practical example of a business transferring British pounds from the UK to the Philippines using XRP as an intermediary currency. Through Ripple’s Global Partner Network, the funds are converted into the local currency almost instantly, ensuring the recipient in the Philippines receives the exact amount quoted.
The use of XRP within Ripple’s payment network is seen as a key factor in the potential increase in XRP’s market value. Despite speculations of XRP reaching $10,000 per token in the future, experts dismiss such claims as unrealistic, given XRP’s current price of $0.52.
It is important to note that Ripple’s use of XRP for payments is demand-neutral, meaning it does not impact price movements. This article serves as informational content and should not be construed as financial advice. Readers are advised to conduct thorough research before making any investment decisions.
