Ripple, a crypto payment company, recently launched an ad campaign promoting the use of XRP in the cross-border payment industry, which is expected to grow to over $300 trillion in the next six years.
The ad caught the attention of the XRP community, with Edoardo Farina, Head of Social Adoption at XRP Healthcare, sharing the promotion on X yesterday.
In the advertisement, Pegah Soltani, Ripple’s head of Payments Product, explains how blockchain-based payments work and the potential of XRP in revolutionizing global transactions.
Soltani highlighted the massive amount of money transferred internationally annually and projected the number to reach $300 trillion by 2030. She also pointed out the inefficiencies in the current global payment system, such as high costs, slow transfers, and errors.
Despite these challenges, Soltani expressed optimism about Ripple’s approach to using blockchain and digital currencies like XRP to provide faster, more cost-effective, and transparent payment solutions for businesses and users worldwide.
In a practical example presented by Soltani, a business transfers 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 in real-time, ensuring the recipient receives the exact amount quoted initially.
The use of XRP in Ripple’s payment network has sparked enthusiasm among supporters, with some speculating that XRP could reach $10,000 per token in the future. However, experts have dismissed these predictions as unrealistic given XRP’s current price of $0.52.
Ripple has clarified that its use of XRP for payments is demand-neutral and does not impact price fluctuations. This information serves as a reminder that investment decisions should be made after thorough research, as financial losses can occur.