The San Francisco-based payments startup Ripple appears to be working to connect a long list of financial institutions through a digital matchmaking effort.
Crypto sleuths have identified more than 170 financial institutions whose names can be found on Ripple’s website under the umbrella of a Ripple page titled “Matchmaking.”
Many are known Ripple partners, though some of the URLs seem to reference companies that are not currently public members of RippleNet, including Revolut, a UK-based financial technology company, and Diners Club, a banking and payment services firm.
— ༜༝🅂🅃🅄🄰🅁🅃🅇🅁🄿💧⚡ (@XRP_stuart) September 29, 2020
Ripple owns more than half of the total supply of the digital asset XRP and has long focused on connecting financial institutions to boost its crypto-based payments network, which is called On-Demand Liquidity.
The company announced in late 2019 that it intends to give financial institutions on the network a hub they can use to analyze data on their fiat and XRP transactions as well as connect with one another.
In 2019, Marcus Treacher, Ripple’s senior vice president of customer success, said on the Jay Kim Show that matchmaking would be key to those efforts.
“Ripple is serving a genuine community of customers – banks and payment companies – which work together as a community.
Not just customers of Ripple, but their own community. It’s really, really important. And that model enables customers to then find other customers easily. Matchmaking is more straightforward; connecting others is much easier.”