Ripple (XRP) Director Discusses How They Are Helping Banks & Remittance Services

Ripple is collaborating with a number of financial institutions with the main aim of lessening the abrasion in international payments, with the latest one being their partnership with Kotak Mahindra, one of the leading private sector banks in India. According to Emi Yoshikawa, Director of Joint Venture Partnerships at Ripple, the use of blockchain will ameliorate the fiscal infrastructure in the world today.

Yoshikawa also declared that ‘Interledger Protocol’ enables a conduit for payments to move across diverse ‘digital asset ledgers’ while isolating senders and receivers from the risk of disappointments from intermediaries. Yoshikawa is of the view that the key objective of the project is to connect financial institutions and fiscal services to one network whereby global payments can be done seamlessly.

Ripple makes use of XPR, the highly scalable virtual asset which is available on the Ripple network. This goes a long way in cutting down on expenditures as well as augmenting performance for high volume transfers. In many ways, Ripple is looking at the fiscal market from the standpoint of the end user. In this regard, the company has come up with the product called xRapid.

Upsetting The Current Financial Industry

On the question of whether Ripple has the capacity to upset the current fiscal industry, Yoshikawa asserts that the products the company has come up with are not just for the sake of reducing costs, but they are also meant for creating budding commercial prospects. Ripple also aims at offering improved entrance to fiscal services.

In her own views, Yoshikawa is of the idea that even though people think that blockchain is a threat to the current financial services, this may not necessarily be the case. This is because Ripple is assisting banks to improve their services, so that they can offer better services to their clientele.

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.

[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

Crypto Exchange Gemini Makes an Aggressive Move, Adds 15 Hot DeFi Tokens

DeFi is all the rage in today's crypto world, and no one wants to be left behind, especially cryptocurrency exchanges. Over the past few months,...

Ethereum ‘Getting Ready for Spadina' Testnet Next Week

The Spadina testnet of ETH 2.0 has been scheduled for genesis before the month ends, on September 29 at 12 pm UTC, as per...

KuCoin Hack: Exchange’s Insurance Fund to Cover User Loss “Completely,” Tether Freezes 33M USDT

The Singapore-based cryptocurrency exchange KuCoin released a statement regarding detecting large withdrawals on September 26, 2020, at 03:05:37 (UTC+8). The exchange has reportedly lost $150...

Crypto Custodian, Anchorage, Adds Support for DeFi Tokens: BAL, NXM, AAVE, UNI, and YFI

Anchorage, the Delaware corporation headquartered in San Francisco, California, and digital asset custodian for institutional investors is diversifying its DeFi token options for its...

Coinbase Wallet Targeted by New Trojan Malware Dubbed ‘Alien’

The Coinbase wallet is among 226 Android applications targeted by a recently discovered Trojan dubbed ‘Alien.’ This malware mostly targets the financial services space...

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.

Start Using Crypto Today