Ripple Claims More Decentralization as XRP Holdings Drop to 50%
San Francisco-based fintech firm Ripple released its third quarter report revealing that its control over its native token is diminishing. The company proudly stated that it is becoming more decentralized contrary to what critics have claimed. It said the ownership of XRP is not an indicator that Ripple controls XRP Ledger (XRPL).
Ripple disclosed that its total net sales of XRP for the period were down to $310 million from the $409 million it sold in the second quarter. It added that these sales have been solely linked to its on-demand liquidity (ODL) transactions which have been increasing. ODL is one of Ripple’s primary products, which facilitates cross-border transfers for financial institutions. The company highlighted its expansion with a Travelex partnership which will enable ODL in Brazil to allow transactions between Brazil and Mexico.
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