Reece Merrick, Ripple’s Senior Executive Officer and Managing Director for the Middle East & Africa, recently shared a key prediction about the future of cross-border payments.
In an X post, Merrick wrote, “$50+ Trillion by 2032? Last year, B2B cross-border payments market hit $31.6 trillion, and we expect it to grow by 58% in the next seven years.”
According to data shared by Ripple in its latest insights report, last year, the business-to-business (B2B) cross-border payments market reached $31.6 trillion. That value is expected to rise by 58% to $50 trillion by 2032.
With globalization and digitization on the rise, demand is expanding; e-commerce sales alone reached an estimated $6 trillion globally in 2024, with cross-border transactions accounting for an increasing share. This demonstrates how vital cross-border transactions are to businesses, economies and communities all across the world.
Ripple’s payout network serves more than 90% of the global financial exchange market, supporting pay-in and pay-out in both stablecoins and local fiat currencies.
RLUSD gains traction
Ripple leverages blockchain and digital assets such as XRP and stablecoins such as Ripple USD (RLUSD) to enable businesses to send and receive stablecoin payments across borders.
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In new listings, Ripple USD stablecoin RLUSD is now available on Euler, letting users borrow, lend or use it as collateral. Crypto exchange Bitget has also announced the listing of Ripple USD (RLUSD) on its spot trading platform.
RLUSD has also launched BitMEX, allowing users to deposit, buy and trade RLUSD on Spot and use it as margin through Multi Asset Margining, making it the first exchange to offer RLUSD as margin to date.
XRP, the native token of XRP Ledger, has been added to Multi-Asset Margining on BitMEX.
