Ripple Signs 2-3 Institutional Clients a Week on Average, Says Head Of Banking at Ripple

Ripple, which has done a phenomenal job with regards to roping in partners, is signing two to three institutional clients a week on average, according to Global Head of Banking at Ripple, Marjan Delatinne.

Delatinne was speaking to Journal du Net, where she revealed the impressive statistic. The interview covered a range of topics, including a comparison to SWIFT, its customer base, its plans in Europe, and general strategy.

When asked about how many customers Ripple has, Delatinne said,

Since the end of 2018, more than 200 financial institutions have been in production at Ripple. This means that these companies have gone beyond the simple POC ( proof of concept, ed ). We took two years to sign the first 100 and one year for the other 100. On average, we sign approximately two to three financial institutions a week.

Referring to the progress made in Europe, Delatinne said that Ripple was in discussion with “different French financial institutions” and mentioned work with banks like Santander Credit Agricole:

We do not give the exact number of customers in Europe but I can tell you that big European banks like Santander and Crédit Agricole are live on the network. Europe is an important market for us because of the volumes of transactions made each year. According to SADI, the International Fund for Agricultural Development, 150 million people worldwide receive money from people residing in Europe.

A positive takeaway for investors in Ripple is that it is investing heavily in Europe, having launched an office in London and Delatinne stresses the focus on supporting European customers,

We opened an office in London in March 2016 with 40 employees today. It’s our European heart. This choice is quite obvious because London is one of the most important financial centers in the world. In EMEA, we also have an office in Dubai. We are hiring heavily to support our customer base in Europe.

Ripple has been thriving in the recent bull run, and CEO Brad Garlinghouse has been doing much to convince financial industry insiders about the effectiveness of Ripple’s solutions.