Ripple Global Banking Head: 10 Financial Institutions Actively Using XRP, Volume Increasing Daily
Ripple is constantly seeing development as further evident from the fact shared by Marjan Delattine at the Paris Blockchain week summit that about 10 financial institutions are already and actively using the digital asset XRP.
“We do have 10 financial institutions that are actively using our product (XRP) and the volume is increasing every day,”
Delattine, the global head of banking at Ripple while speaking about the Future of Distributed Ledgers shared this development regarding XRP while talking about the cost involved in management liquidity that is one of the major pain points in the complex correspondent banking.
“XRP which is a product that is live,”
offers on-demand liquidity not only for big banks but also for smaller institutions.
You can watch the full video here.
XRP Index Gets Added To Nasdaq & More
Just recently, XRP joined Bitcoin and Ether to become the third cryptocurrency index to get listed on one of the leading stock market operators in the world NASDAQ’s GID Service.
XRP Liquidity Index (XRPLX) was added to its Global Index Data Service on May 1 that will provide real-time spot or reference rate for the price of XRP. The price of the digital asset would be quoted in the US dollar.
Additionally, XRLX would source data only from those crypto exchanges that have an in-depth order book and the highest trading volume.
🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 400,000,000 #XRP (121,035,606 USD) locked in escrow at unknown wallet
— Whale Alert (@whale_alert) May 2, 2019
This week XRP saw a lot of developments aside from addition on Nasdaq. We saw Bakkt’s latest acquisition Digital Asset Custody Company (DACC) supporting XRP Ledger.
Another partner of Ripple was revealed this week only, Rial Financial Services that aims at increasing the digital and physical footprint of Ripple.
eToroX the latest crypto platform by eToro added three new XRP pairs. XRP Tip Bot also added Coil login while Coin launched a blogging platform to pay content creators with XRP.
XRP back Above $0.30
At the time of writing, the third largest digital currency has been trading at $0.310 with 24 hours gains of 2.09 percent, as per Coinmarketcap data.
However, it is still one of the few top cryptocurrencies — just like Stellar which is down 9.35% — that is in the red by 12.31 percent till date in 2019, despite seeing a lot of developments.