In short: XRP primarily serves today as a bridge currency for international remittances – plus a few XRPL extras like NFTs and the native AMM.
1) Japan → Philippines/Vietnam/Indonesia with SBI Remit (live) SBI Remit uses Ripple Payments with XRP as a bridge to process remittances from Japan to bank accounts in the Philippines, Vietnam, and Indonesia in real-time. Status: live.
2) Southeast Asia Corridors via Tranglo (live) Tranglo integrates Ripple/ODL in dozens of corridors; significant volumes have been processed, most of which in real-time. Status: live, in productive use.
3) MENA: Pyypl in the UAE (launched) An ODL service with Pyypl was launched in the UAE to enable cheaper remittances. Status: live, public detail numbers are limited.
4) Government pilot on XRPL: Palau Stablecoin (PSC) Palau tested an XRPL-based USD stablecoin in a 'Closed-Loop' pilot. Result: Pilot completed, legal/regulatory issues pending, no nationwide rollout. Note: uses XRPL technology, not XRP as a payment asset.
5) DeFi on XRPL: AMM (XLS-30) The native AMM went live in March 2024. Shortly after launch, there was a routing bug; a fix amendment was provided and voted on. Status: operational, teething problems addressed.
6) Costs & Speed (XRPL Basics) Typical cost per standard transaction: 10 Drops = 0.00001 XRP. Settlement usually in about 3–5 seconds. This is what makes XRP attractive as a bridge asset.
Stablecoins in the Stack Ripple launched a USD stablecoin with RLUSD and integrated it into Ripple Payments. This complements payment flows; XRP remains the crypto liquidity option for bridges.
XRP primarily works today where money flows cross-border (SBI Remit, Tranglo, Pyypl). Government and DeFi projects on the XRPL exist (Palau Pilot, AMM), but not everything is globally rolled out.
Fees very low, speed high – that's exactly what XRP is used for.
I ❤️ $XRP
