Ripple’s $16 Trillion Transaction Volume Now Rivals Visa, Says CEO Brad Garlinghouse
Ripple CEO Brad Garlinghouse said the company processed $16 trillion in transactions last year, a figure he says puts the payments firm on par with Visa. The disclosure came during a recent interview in which Garlinghouse detailed how little of that volume actually settles on blockchain rails.
Garlinghouse noted that only about 0.1% of the $16 trillion — roughly $160 billion — moved on-chain through XRP, stablecoins, or other blockchain settlement methods. He framed the gap as an opportunity, saying each 0.1% increase in on-chain settlement represents another $160 billion in volume that could benefit from faster, cheaper, and more predictable transaction processing.
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Why Ripple’s On-Chain Share Matters
The distinction between total transaction value and on-chain settlement is central to understanding Ripple’s business model. Ripple operates a global payments network that moves money for financial institutions using traditional infrastructure, with blockchain settlement layered on top. That hybrid approach has drawn both praise from customers seeking efficiency and criticism from crypto purists who argue the company has been slow to embrace full decentralization.
Garlinghouse said both stablecoins and XRP are having record years, and he expects the $16 trillion total to grow further in 2026. The company has been expanding its stablecoin offerings and partnerships with banks and payment providers, aiming to make on-chain settlement a default rather than an exception.
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Comparing Ripple’s Volume to Visa
Visa processed approximately $16 trillion in total volume in its 2025 fiscal year, according to the company’s annual report. Garlinghouse’s comparison is not a direct apples-to-apples match — Visa’s figure reflects card payments, while Ripple’s includes all transactions moving through its network, including those settled via traditional banking rails. Still, the scale highlights how far Ripple has come since its early days as a niche cross-border payment token.
The comparison also underscores a broader trend in the payments industry: blockchain-based settlement is moving from pilot projects to production-scale systems. Ripple’s XRP Ledger has processed billions of transactions since its launch, and the company has been positioning itself as a bridge between legacy finance and digital assets.
What This Means for XRP and Stablecoin Adoption
For XRP holders, the news reinforces the token’s utility as a settlement asset rather than a speculative store of value. Garlinghouse has long argued that XRP’s value is tied to its use in real-world payments, not just market sentiment. If Ripple can shift even a fraction of its $16 trillion volume onto XRP, the token’s transaction flow would dwarf most other blockchain networks.
Stablecoins are also playing a larger role in Ripple’s strategy. The company launched its own USD-pegged stablecoin in 2024 and has been integrating it into its payments products. Garlinghouse said stablecoin volumes have grown alongside XRP, reflecting demand for both volatility-free settlement and faster cross-border transfers.
Ripple’s Path Forward
Ripple’s ability to grow on-chain settlement will depend on regulatory clarity, bank adoption, and competition from other blockchain networks. The company has faced legal challenges in the U.S., but the SEC case that dominated headlines for years was resolved in 2025, giving Ripple more freedom to pursue partnerships without the threat of an enforcement action.
Garlinghouse’s comments also come at a time when traditional financial institutions are increasingly exploring tokenization and blockchain settlement. Ripple’s partnership with the London Stock Exchange to tokenize UK stocks, announced earlier this week, is part of that push.
Whether Ripple can convert its $16 trillion in transaction volume into meaningful on-chain growth remains an open question. But the company’s CEO is clearly betting that the infrastructure is now mature enough to handle the shift.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are volatile and uncertain; readers should conduct their own research before making any investment decisions.
