From the 3rd of June 2018, going back a couple of weeks, business has not been usual in the cryptocurrency market. An example is Bitcoin’s loss of $1000.00 plus in value. The outlook without a doubt was bearish. However, it’s too early to lose focus, as there are some developments which may straighten things, and Ripple is part of the changes.
Ripple’s New Partnerships
Ripple is using both, xRapid and XRP as its new platforms to conduct international transactions. The two financial institutions will facilitate the performance of Ripple’s XRP, as the demand gets growing.
Currencies Direct (CD) is also one of the partners Ripple seeks to capitalize on for its services. CD is based in the UK and conducts currencies exchange. It could thus double up as Ripple’s greatest ally. As a start, it did test its efficiency using xRapid to conduct an international money transfer, and the results were a record success.
More than 75 of the world’s financial institutions and big banks are using Ripple’s Blockchain Tech. The banks are using the technology in a host of their daily transactions. The results from these tests have been nothing but spectacular.
The Pros of Going Ripple
Here are some of the major benefits that crypto clients and customers can get from the adoption of the Ripple technology:
- Ripple saves both the bank and the client up to 40-70% of the transaction costs and fees.
- It saves the client an incredible amount of time. Transactions in Ripple take 2 minutes whereas the traditional means such as SWIFT take a maximum of 4 days.
- It makes humanitarian aid and works plausible and easier.
Brian Harris is the Chief Product Officer at CD. In explaining their newfound partnerships, he stated that their recent tests with $XRP were a resounding achievement. He further stated that the adoption of the XRP was a game changer as it was the only deal that assured clients of real-time and immediate payments.
Kuwait joined the Ripplenet last week through the Kuwait Finance House (KFH). It remains the first country to engage its customers in Ripplenet. Results are positive, and from market analysis, it was the right direction to have taken. KFH states that Ripple and XRP is the future of money exchanges internationally.
Ripple’s projected partnerships will do well going forward. If you are still not convinced where to head to, XRP is the way to go. The run has just but started, and it will be great to be a part of the wagon.
The Japan-based currency exchange, SBI Virtual Currency, has prioritized Ripple’s XRP in their new Website. It is evidence of the confidence it has on this cryptocurrency. It also makes Ripple’s XRP the primary cryptocurrency exchange to look forward to in the international arena.
Ripple’s exchange platform and technology has assured capabilities. As a true demonstration of its success ability, Matthew Mellon (who is late) invested $2 million into the technology. The initial investment is worth $1 billion at the moment. He saw the writing and went in, something you are yet to do.