Cointelegraph reported that the Ripple payment corridor between the US and Mexico had seen an increase of billions of dollars. Specifically, aided by the company’s proprietary technologies. Conversely, crypto exchange Bitso recorded total remittance transactions worth a total of $3.3 billion in 2022.
That figure represents an increase of more than three times the volume that was previously reported in 2021. Moreover, the development continues to ensure the growing global relevancy of Ripple and its native XRP token.
Ripple Shows Continued Global Importance
When it comes to the name Ripple, many in the digital asset sector will place their attention on the ongoing legal conflict with the SEC. Conversely, recent news arriving today has noted the growing global importance of the company outside of its legal dealings with the US regulator.
Specifically, Cointelegraph reported that the Ripple payment corridor between the US and Mexico had seen an increase of billions of dollars. Additionally, that number has been aided greatly by the presence of the XRP token.
Despite the ongoing macroeconomic factors that have attacked the global economy, Bitso cross-border transactions have been thriving. Specifically, the remittance flow between the two North American countries has only grown stronger.
Crypto exchange Bitso stated the increase in remittance but also noted it’s happening as part of its partnership with XRP technology payments. Moreover, due to the presence of Ripple On-Demand Liquidity (ODL), the blockchain alternative to costly transactions has been answered. Subsequently giving access to funds at a much quicker rate.
Aaron Sears, the General Director of the Americas at Ripple Labs, noted their commitment to combating payment challenges. “Our collaboration with Bitso allows us to continue to offer unprecedented cross-border payments in Mexico, a key region for our clients,” he stated, according to Crypto News Flash.