Global XRP adoption sees growth across all continents

Ripple's (CRYPTO:XRP) digital asset, XRP, is witnessing worldwide adoption as institutions across all seven continents embrace its technology, according to a new report from Tokenicer. 

This development showcases the robustness and versatility of XRP, even amidst ongoing legal battles in the United States. 

Ripple's partnerships and expansion efforts have thrived outside the US, leading to greater acceptance of XRP in financial systems around the world.

In South America, Ripple is working with the Bank of Colombia on a Central Bank Digital Currency (CBDC) initiative. 

Brazil's National Federation of Associations of Central Bank Servers is leveraging Ripple to improve payment systems and treasury management.

In Europe, Ripple has formed partnerships with institutions such as Clear Junction to facilitate cross-border payments between the EU and the UK. 

The Central Bank of Montenegro has also begun testing Ripple's CBDC platform.

Ripple has secured significant ground in Asia, with a longstanding partnership with SBI Holdings to enhance cross-border remittances in countries like the Philippines, Vietnam, and Indonesia. 

Additionally, Ripple's recent Major Payments Institution license from the Monetary Authority of Singapore further strengthens its presence in the region.

The Middle East is also a crucial area for Ripple, particularly in Dubai. 

Ripple's collaboration with the Dubai International Financial Centre and major banks in Egypt is advancing blockchain-based payment systems and experimenting with NFTs in the UAE.

In Africa, Ripple's partnership with Onafriq aims to improve remittance services across the continent, which is especially vital in a region where many people lack access to traditional banking.

Finally, in Oceania, Ripple is focusing on stablecoins. 

The Republic of Palau is testing a US dollar-pegged stablecoin on Ripple’s platform, while Novatti is launching a fiat-backed AUD stablecoin on the XRP Ledger in Australia.

Ripple's global expansion is fueling institutional demand for XRP, reinforcing its potential to revolutionise cross-border transactions and secure its place in the global financial system.

At the time of reporting, XRP was priced at $0.5982.