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

As many of our regular readers may already be aware of, Mercury FX is currently one of the biggest mainstream players to be making use of Ripple’s xRapid platform. It is rumored that the company is using this system to facilitate its payments across Canada and the Middle East.

  • 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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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[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

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