Marcus Treacher, one of the Ripple executives, explained that the company aims to bring its technology to the world by 2021.
Ripple has more than 350 partners worldwide to make cross-border payments cheap and in a short time. Ripple employs more than 500 people worldwide and is currently working to further expand its presence, especially in Asia.
Ripple Aims to Conquer the Global Market
Treacher announced that Ripple is ready to provide global coverage for financial institutions next year. Half of the company’s existing customers are payment companies such as MoneyGram and exchanges like Bitso, while the other 50% are banks.
As Treacher explains, Ripple’s mission is to provide customers with worldwide payment. To achieve global coverage, Ripple plans to increasingly trust partners like MoneyGram, which offers payment services in more than 160 countries worldwide:
“Our network is just as big as the customers we connect with and we currently have direct partnerships in 45 countries. For example, we can reach many other countries through a number of RippleNet members such as Nium. ”
In addition, Ripple wants to use its own network to enable cash payments in every country around the world, thereby helping millions of people. Due to the partnership with MoneyGram, Treacher also expects Ripple to reach global coverage by mid-2021:
“By the middle of 2021, I think we will have complete global coverage. Thanks to our relationship with MoneyGram, we have a large network, which gives us cash payments in almost every country in the world. ”
Another important market for Ripple is China. But for now, the Chinese market seems a bit difficult due to strict rules.