Can Ripple and XRP Disrupt the Payments Industry in the US and the World?

    Ripple is one of the most popular companies in the cryptocurrency space. Indeed, it is trying to solve some of the main problems that companies and financial institutions face when trying to send funds between different countries.

    In a recent article released by AmbCrypto, Akash Girimath unfolds three steps that the company is currently taking.

    The first thing the author mentions is hat Ripple announced that they have partnered with more than 200 companies around the world. Financial institutions and banks in more than 40 countries are now working with Ripple’s services. Although there are several individuals and analysts that believe that the company has been randomly selecting companies, this is not the case, according to Girimath.

    He says that Ripple partnered with D+H Corporation, which is a leading provider of technology solutions for financial companies back in 2015. Later in 2016, D+H announced they integrated blockchain technology into their global payment services.

    The second step is related to Clearing House Payment Company LLC. This firms aimed at upgrading the payment infrastructure for the United States. In 2017, D+H is acquired by Vista Equity Partners and combined with Misys and started to operate as Finastra. At the same time, PNC goes live on RTP on December 5, 2017.

    The third thing that the author mentions is that the final connection is performed by Ripple, which has already partnered with PNC. Clearly, Ripple is indirectly related to the partners on the Clearing House’s RTP. Girimath explains that Ripple is already competing with SWIFT with its blockchain products launched to the market.

    He mentions that there is speculation about the Faster Payment Task Force looking to use XRP to improve the payment system and offer greater speed, security and efficiency. Moreover, the Bank of England’s Governor, Mark Carney has also been discussing XRP and develop some solutions for cross-border payments.

    EuroExim, SendFriend and Viamericas are companies that have partnered with Ripple and are interested in using the xRapid product.

    Ripple continues to expand with new partnerships all over the world. In the future, this will play an important role in improving the payment system and cross-border transactions. According to Girimath, it is just a matter of time to know how far adoption can go.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Govt's May Accelerate Digital Payment And CBDC Research Due to COVID-19: Bank of International Statements (BIS)

    Bank of International Statements (BIS) recently released a research report on the effect of the COVID-19 pandemic to the overall payment system. According to...

    General Motors (GM) Files Blockchain-Based Map Network Patent for Autonomous Vehicles

    General Motors (GM) plans to build a self-updating navigation system on blockchain to allow use across “specific roads” on autonomous vehicles. In a newly...

    BTC Proposes a Greater Value Than Gold; $670M Transferred For 26 Cents Within Its Network

    Bitcoin’s value proposition in fund transfers is so far one of the most cost-friendly avenues to send money globally. A recent transaction within its...

    COVID-19's Impact On The Economy Claims Another Business as Cambrial Capital to Shut Down

    Cambrial Capital which focuses on a Crypto fund of funds is set to shut down its operations in the near future according to insiders...

    Apple’s New Intelligent Prevention Tracking (ITP) on iOS Threatens Burner Wallets Existence

    Apple’s recent upgrade on the Safari WebKit might soon phase out the convenience of burner wallets within the cryptocurrency space for its users. ...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.