The number of merchants that accept XRP is growing at a rapid rate in 2020.
In December of 2019, the number of companies accepting XRP for payments stood at 457, according to the online crypto merchant directory Cryptwerk. That number has since grown to 670 businesses – an increase of 46.61% in a span of seven months.
Cryptwerk says 22% of the businesses accepting the crypto token are based in the US. That’s followed by the UK and India, accounting for 10% and 5% of all merchants accepting XRP.
The US-based crypto payments provider BitPay is the largest payments company to integrate XRP this year.
Ripple’s native token is the sixth most popular coin among merchants according to Cryptwerk, after Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash. Although merchant adoption of XRP is rising the fastest, all of the aforementioned coins are seeing strong growth in 2020.
There are 3,272 merchants registered to accept BTC at time of publishing – up from 2,731 at the start of the year.
ETH is next on the list, with 1,722 merchants accepting the crypto asset – up from 1,397 on January 1st.
LTC has grown from 1,066 merchants to 1,353, BCH has grown from 975 to 1,331, and Dash has grown from 619 to 760.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Daria.G
