Ripple targets $16T payment opportunity with XRP
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- Ripple said it sees significant potential to expand XRP's role across US$16 trillion in annual institutional payments and clearing activity.
- CEO Brad Garlinghouse said digital assets currently account for almost none of the payment volume handled across Ripple's acquired businesses.
- Ripple is expanding XRP's enterprise use through stablecoins, custody, treasury services and regulated derivatives infrastructure.
Ripple said it is seeking to expand the use of XRP (CRYPTO:XRP) across approximately US$16 trillion in annual institutional payments and clearing activity processed through businesses it has acquired.
Chief executive Brad Garlinghouse said digital assets currently represent "close to zero percent" of that payment volume, highlighting what he described as an opportunity to integrate blockchain settlement into existing financial infrastructure.
"We've seen tremendous demand," Garlinghouse said, adding that Ripple's long-term objective has been to bring traditional finance onto blockchain-based infrastructure.
Ripple has expanded its enterprise capabilities through acquisitions spanning custody, brokerage and institutional finance, with the company positioning XRP as a settlement asset for banks and corporate clients.
The company is also broadening XRP's applications through stablecoin settlement, treasury management and regulated derivatives, including support for MXNB and RLUSD on the XRP Ledger in partnership with Bitso for cross-border payments between the United States and Mexico.
Ripple Prime has also participated as a clearing and financing partner for CME Group's 24/7 cryptocurrency futures and options offering, while XRP futures previously surpassed US$1 billion in open interest within three months.
Ripple said its broader strategy is to combine payments, tokenisation, custody and treasury services into a unified blockchain-based financial infrastructure, with ongoing development supported by the XRP Ledger Foundation and the wider ecosystem.
At the time of reporting, XRP price was $1.04.
