Ripple Announces Microsoft, BitGo, and Bitso Powering XRP Ledger Update Cryptocurrency Stocks

Ripple has updated key statistics on the number of XRPs, as well as which companies are helping support the network.

ripple 26 - Ripple Announces Microsoft, BitGo, and Bitso Powering XRP Ledger Update Cryptocurrency Stocks

As of February 9, 2020, the San Francisco payment company reported that it had 49,700,000,013 XRPs left in its cryptographically secure conditional accounts worth about $ 13.8 billion. The company placed 55,000,000,000 XRPs in escrow at the end of 2017, following a monthly schedule that issues 1 billion XRP and provides funds for the sale of the company.

Ripple says the escrow process is designed to enable investors to track the company’s XRP assets.

“Since 2012, Ripple has systematically sold XRP and used it to stimulate market makers to increase XRP liquidity and strengthen the overall condition of XRP markets … By depositing the lion’s share of XRP, people can mathematically check the maximum XRP supply that can go to the market.”

In the fourth quarter of 2019, the company said it had sold a total of $ 13.8 million to financial institutions with zero sales of the same XRP on cryptocurrency exchanges.

Meanwhile, Ripple said that Microsoft is still the most powerful XRP Ledger validator that processes transactions online.

BitGo, an American digital asset management company, and Bitso, the Mexican cryptocurrency exchange, are the two newest companies involved in the development of the network. CGI, Berkeley Haas, Telindus, University of Tokyo, GateHub, WorldLink, Bahnhof and Flagship are also validators, according to Ripple.

Ripple owns a 17.1% stake in top-level validators. In the long run, the company says it plans to dissociate itself from the decision-making process about which organizations enjoy the most trust in the network.

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