Home / Crypto News / Ripple gains more partners: 5 banks and fintechs will use the Ripple XRP cryptocurrency

Ripple gains more partners: 5 banks and fintechs will use the Ripple XRP cryptocurrency


Ripple announced last night that a total of 13 other financial institutions have joined RippleNet. Overall, the company can now refer to over 200 partners. Of these 13 new partners, five will use the ripple cryptocurrency XRP for liquidity. The institutions mentioned in the press release are: JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. The remaining 8 join RippleNet, but will not use the XRP cryptocurrency.

Kaushik Punjani, Director of Euro Exim Bank, said about the partnership:

As a leader in trade finance solutions for global companies and fintech, we are uniquely positioned to offer new payment channels and opportunities to raise liquidity. Our clients – whether large corporations or individual clients – historically found it difficult to obtain suitable funds or handle transactions cost-effectively and in a timely manner. Working with Ripple and selected colleagues, we developed, tested and implemented xCurrent and xRapid in record time. We look forward to the benefits that these applications bring to our customers.

Significantly, most of the companies that transferred to RippleNet do not use XRP for liquidity. They will use the so-called “settlement layer” of RippleNet – Ripples Enterprise Blockchain – and the network of other institutions for cross-border payments. For example, the bank has granted loans to Porsche to BBVA and carried out large international money transfers thanks to Ripples technology in record time.

RippleNet and xRapid are Ripple's core offerings to the financial community. With RippleNet, banks can collaborate with other network participants in ways that significantly reduce costs, while xRapid provides immediate liquidity through XRP.

Ripple course is quite stable

The ripple course has been consistently around the 37 cents during the last 24 hours. With that, Ripple XRP is still far from its all-time high of more than $ 3. It is important that the company continues to develop its technology and business relationships. This increases the network value of the cryptocurrency XRP. The interest in Ripple is growing steadily. Somewhat unfavorable for the long-term price development, however, is the very high number of XRP coins held by the company Ripple itself.

Brad Garlinghouse, Ripple CEO, said to RippleNet's new partners:

In 2018, nearly 100 financial institutions joined RippleNet, and we are currently gaining two, sometimes three, new customers each week. We also noted an increase of 350 percent last year among customers making live payments. We see more and more customers use XRP for on-demand liquidity. Ultimately, our goal is to ensure that our clients can provide their clients with excellent and efficient cross-border payment experience anywhere in the world.

Source: Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-gewinnt-weitere-partner-5-banken-und-fintechs-werden-ripple-xrp-kryptowaehrung-verwenden/

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