Ripple's Growth Rises With Partnership More Top Companies
Ripple’s XRP digital asset’s value has started to reflect a large number of Ripple’s collaborations as well at developments between 2018 and early this year.
On the 11th of May, XRP rose above 0.30 USD and is currently valued at 0.43 USD, that is over 40% increase in five days. This is quite a huge leap being that XRP was valued at 0.30 USD for over a year.
During this low period of XRP, Ripple focused on partnerships, development, and collaborations with some of the top financial companies and institutions globally.
For example, Ripple used their downtime to get partners for RippleNet, their cross border blockchain payment system, and solicit firms to use their xRapid payments solutions.
World Bank Recognition
Ripple currently claims to have 10 financial firms active on the XRP network, with almost instantaneous transaction speed, which is not available on conventional payment platforms.
This speed in remittance by Ripple (XRP) was acknowledged by World Bank in their report on cross border Distributed Ledger Technology (DLT).
The RippleNet platform presently has over 200 institutional customers on the network, with most using Ripple’s xCurrent for their cross border blockchain payment system.
Though xCurrent does not make use of XRP, Ripple has launched an upgrade “xCurrent 4.0” with XRP Integration.
This upgrade will enable both present and future xCurrent users to use XRP via xRapid making the migration of institutional clients to the XRP network way easier.
Ria Money Transfer Partnership
One notable outcome of this development is Ripple’s recent partnership with Ria Money Transfer, a subsidiary of Euronet, to enable fast blockchain based cross border payments.
This partnership is quite a huge feat for Ripple because Ria Money Transfer is one of the largest funds transfer platforms in the world, with a yearly transfer volume of $40 billion, across 377 thousand locations in 155 countries.
International Money Fund
Chris Larsen, Co-founder of Ripple was selected by the International Money Fund (IMF) as part of a 20 person panel of leaders and experts in finance and technology for talks on new FinTech innovations and their applications.
More Ripple Accolades
In addition to this global recognition of Ripple, it has also become one of the pioneering members of the European Commission's blockchain association, dubbed INATBA (International Association Of Trusted Blockchain Applications).
Brad Garlinghouse, Ripple’s CEO was stated that the Bank of England is one of Ripple’s clients, a statement which the Governor of the Bank of England confirms in the recent Innovate Finance Summit.
All this show the rapid growth in both popularity and adoption of Ripple’s XRP cryptocurrency, and signs of more significant growth is in view.