Ripple’s cross-border payment platform witnessed massive growth year on year. This came to be despite the ongoing legal battle with the SEC.
The payment giant continued its expansion and partnerships. This was made known in Ripple’s Q2 2022 report.
The report reads, ”Customers continued to expand the use of ODL for use cases beyond traditional remittances or individual payments, with treasury flows and bulk payments accounting for more volume on the network.
Ripple’s ODL platform related sales climbed to $2.12 billion, with purchases amounting for$1.717 billion and net sales worth $409 million. With global expansion and partnerships with fashion brands like Balmain, Ripple is making strides in its growth.
Ripple’s recent partnership with FOMO Pay, a payment solution provider, helped the payment giant expand in Singapore and improve its cross-border treasury flows.
In response to macroeconomic cues and other developments in the world economy, XRP price and volume declined 22% QoQ.
Read Also- Understanding Crypto Security Tokens