Ripple made quite an impact last year with several partnerships across the financial industry. It’s latest milestone was one that could not have been predicted at the start of 2018. The third-ranked cryptocurrency company has signed over 200 financial institutions.
The main reason for large financial institutions partnering up with Ripple is the cheap, fast and transparent cross border payment solution it provides through its technology.
The latest financial institutions to join RippleNet include Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, and Rendimento.
Out of the new partnerships JNFX, SendFriend, Transpaygo, FTCS, and Euro Exim Bank will utilize XRP for liquidity for cross border payments.
RippleNet currently operates in over 40 countries across six continents.
It is a rare feat for any cryptocurrency to bring onboard banks and large financial institutions to partner up in using its technology. Ripple has changed the perception, by bringing into light it’s technology and partnering up with big names like Kuwait Finance House and CIMB.
With Ripple’s encouraging signs, the whole issue of it being a security will most probably be put to rest in 2019.
Ripple’s native token XRP at the time of writing is no more in the second position and is now ranked in 3rd which it was positioned for most of last year. Its price is in the green at $0.368833 with a market capitalization of $15,046,212,021.
Ripple’s community is seen to be quite active in believing Ripple’s technological capabilities with constant positivity being spread on social media. No wonder Binance’s CEO, Changpeng Zhao added XRP as a base currency!
As the popular cryptocurrency advocate, Anthony Pompliano keeps repeating on Twitter Long Bitcoin, Short the Bankers! However, in Ripple’s case it’s Banker’s, Longing Ripple!
Image Source – PixaBay
Subscribe to our Newsletter to be a part of our future $1,000 per month contests.