350 financial institutions have joined Ripple’s payment network

Ripple’s chief executive says about 350 financial institutions are using payment technology for the San Francisco startup.

Navin Gupta, Ripple’s managing director for South Asia, the Middle East and North Africa, revealed this information in an interview with the international law firm Nishith Desai Associates.

According to Gupta, the startup in San Francisco already has ” about 350 financial institutions that use its technology every day.”

Ripple continues to add customers, despite the economic impact of the Covid-19 pandemic. Approximately 13 of their clients have been confirmed to use the XRP crypto asset to power international money transfers.

Last November, Ripple announced that there are about 300 customers who use their payment systems to transfer money across borders.

About a year earlier, the company revealed that nearly 200 financial institutions had joined RippleNet. The company has set a goal to achieve a customer base of 400 by the end of 2020.