When it comes to Ripple and XRP, the main area of focus is the financial sector, rather than cryptocurrency. In recent weeks, it appears that the XRP/MXN liquidity through Bitso has reached a new all-time high.
The XRP asset was never designed to rival Bitcoin or other crypto assets.
XRP is Doing Wonders for Bitso Users
Instead, it is utilized to bring liquidity to financial markets and payment corridors.
So far, Ripple’s asset is making inroads in this regard.
Primarily the XRP/MXN payment corridor on Bitso is generating a lot of volume.
An ongoing uptrend has been recorded during the second half of last week.
This shows that XRP is powering more transactions for Mexican users as of right now.
This ongoing growth in liquidity has been visible for many weeks now.
Over the weekend, a new all-time high liquidity for XRP/MXN was recorded at well over 36.7 million.
This is another core example of how powerful Ripple’s On-Demand Liquidity really is for money transfers.
It gives Bitso an option to convert USD into XRP, after which it is converted to Mexican pesos.
The ongoing growth in this segment highlights the need for better payment corridors between the US and Mexico.