Co-founder and executive chairman of Ripple Chris Larsen has revealed earlier this week that the company now has “over 100” production contracts signed.
Larson spoke at the Crypto Finance Conference in Half Moon Bay, CA. He spoke about some 100 companies that have signed on with Ripple depicted by a backdrop graphic behind him as he spoke.
This implies that those companies are using Ripple’s tech and committed to integrating their products in the future. Ripple has a bunch of software solutions designed to help financial institutions improve speed and lower fees. XRP is used in xRapid, their own solution for cross-border payments.
Ripple’s CEO Brad Garlinhouse has also stated previously that they plan to sing up an average of one bank to a production contract every week:
“It’s been an incredible 2018 for us. We’re now signing up one bank to a production contract per week. We announced that we signed the largest bank in Kuwait, the National Bank of Kuwait, so if [Ripple] continues to build momentum and the dynamic there is the network effect.
The more participants, the more value in joining. So we’re seeing that momentum build.”
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