Ripple Celebrates 2020 Early After Unlocking 1 Billion XRP From Escrow

Published: January 3, 2020 | by Bitcoin Press News Team

Ripple, the company behind the XRP cryptocurrency and on-demand liquidity product, has unlocked another 1 billion XRP from its escrow.

Back in December 2017, Ripple announced that it would lock 55 billion XRP tokens in smart contracts to ensure that the supply could be controlled. This XRP was locked into 55 different smart contracts, each due to expire in one-month intervals, thereby allowing the Ripple company to access 1 billion XRP at the start of every month.

At its current value, this most recent unlock is worth around $192 million, which Ripple claims will be used for developing its various products, […]