Ripple: “Total of 14 New Banks and Financial Institutions All-Set to Be Part of the RippleNET Family”

  • Using Ripple’s various payment platforms, the firm seeks to eliminate many of today’s existing liquidity issues.
  • Ripple’s Head of Global Banking was recently quoted as saying that with each passing day, more and more traditional financial entities were moving towards different real-time tx settlement protocols.

As per an all-new interview with Marjan Delatinne — Ripple’s global head of banking — the crypto firm is growing at an unprecedented rate. To be a bit more specific, we can see that over the course of the past couple of weeks, Ripplenet has entered into an agreement with a total of 14 new banks and financial institutions — so as to help them with their various blockchain-based needs.

“Among general audiences, they will still think that blockchain is the same as Bitcoin. But honestly what we see among banks and financial institutions that we are working with – and we have signed up with 14 in the past few weeks – is a decoupling of the concept of crypto assets and what the underlying technology can bring.”

  • According to Delatinne, Ripple is not only concerned with propagating the use of its native XRP token offering, rather the firm is looking to help various mainstream banks and financial institutions embrace blockchain technology in the easiest manner possible.
  • He also added that Ripple, on an average, was “adding two to three financial institutions to its ecosystem” every seven days — which is quite a feat, to say the least.
  • Similarly, we can see that Ripple’s total transaction volume for Q1 2019 has already exceeded its total Xfer volume for 2018.
  • In all, it is estimated that Ripple currently has more than 200 banks and startups as its clients.
  • Delatinne was recently quoted as saying that his company’s main aim is to increase crypto liquidity within smaller countries where it is relatively quite difficult to move capital.

In closing out this piece, it is important to point out that as things stand, a number of Ripple’s existing clients are making use of the firm’s real-time payment messaging system — xCurrent — to move money across international borders. Additionally, it also bears mentioning that Ripple’s xRapid platform, that is slated for release later this year is currently being used by various banking institutions to move money between Mexico and the Philippines.

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