Ripple Launches Advertisement for XRP in Project Estimated to be $300 Trillion in Cross-Border Payments

Crypto payments company Ripple has produced an ad promoting XRP’s use in the cross-border payments market, which is expected to reach more than $300 billion in the next six years.

This advertisement has recently attracted the attention of the XRP community. Edoardo Farina, head of social adoption at XRP Healthcare, retweeted the promotion in a post yesterday.

The ad specifically features Pegah Soltani, Ripple’s head of payment products, who reveals the principles of blockchain-based payments.

Soltani began by pointing out the huge amount of money that is transferred internationally each year. At the same time, she stressed that this figure is expected to reach a staggering $300 billion by 2030.

Despite the expected surge in cross-border transactions, Soltani expressed concerns about the current state of global payments. She noted that the current system is often known for high costs, slow transfers and susceptibility to errors.

Meanwhile, Soltani expressed optimism by highlighting Ripple’s innovative approach to reshaping the global flow of value. Specifically, Ripple leverages blockchain technology and digital currencies such as XRP to provide faster, more cost-effective and transparent payment solutions to its business clients and end users.

Practical use of XRP

As an illustration, the Ripple payments chief presented a real-life scenario in which a business was looking to transfer pounds from the UK to the Philippines. The process begins with a business requesting a foreign exchange rate and price quote.

After receiving and approving the quote, the business proceeds to provide payment instructions. In the visual representation, XRP is the intermediary currency that facilitates transfers from the UK to the Philippines.

Funds are then converted into local currency using Ripple’s extensive global network of partners. Therefore, the recipient in the Philippines will receive the exact amount originally quoted in the desired local currency. Remarkably, all of this happens almost instantly, according to the ad.

Optimism in XRP Utility

Notably, the use of XRP in Ripple’s payment network remains the cornerstone of many supporters’ enthusiasm for the potential growth of XRP’s market capitalization in the future.

Given the projected $300 billion payments market, some have even speculated that XRP could eventually reach a value of $10,000 per token. However, experts mostly view such predictions as fantasy, especially considering XRP’s current price of just $0.52.

Furthermore, it is worth noting that, by Ripple’s admission, its use of XRP for payments is demand neutral, meaning it has no impact on price action, either negatively or positively.

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