Ripple’s 55 billion XRP lockup complete

Back in May 2017, Ripple committed to placing 55 billion XRP in a cryptographically-secured escrow account to create certainty of XRP supply at any given time. The team reported that this lockup is now finished.

By securing a comprehensive amount of XRP in escrow, people can now mathematically verify the maximum supply that can enter the market. This lockup kills any concern that Ripple could flood the market, which the Ripple team has pointed out before is a scenario that would be bad for them as well.

Ripple stated:

“This move underscores Ripple’s commitment to building XRP liquidity and a healthy and trusted market. Long term, the value of digital assets will be determined by their utility. XRP has emerged as the only digital asset with a clear institutional use case designed to solve a multi-trillion dollar problem – the global payment and liquidity challenge that banks, payment providers, and corporates face.”

“Real institutional customers are already using and finding value in XRP, and governments, regulators and central banks are increasingly recognizing the role it could play in the global system. While other digital assets continue to bump against their transaction limits, XRP remains the fastest, most efficient and most scalable digital asset in the world – making it the best digital asset for payments. It’s no surprise that institutions are looking to XRP to provide much-needed on-demand liquidity for cross-border payments.”

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