Ripple (XRP) is one of the most important virtual currencies in the market, and it is always generating several news regarding its products and services. It has great features and offers the latest services for financial companies and institutions. And there are some reasons that would make 2018 Ripple’s year.
Ripple Tackles The Problems Of The Financial Industry
There are no other cryptocurrencies in the market that offer such important solutions for enterprises and the financial sector as Ripple. Sending money from one country to another is a very costly and tedious process. Banks use an outdated system that is not effective and is very costly.
Fortunately, Ripple was able to develop an important number of products and services that make cross-border payment seamless, fast, and cheap. At the moment, Ripple offers one of the lowest fees per transaction in the market, much cheaper than any other digital currency.
At the same time, Ripple is being listed in several virtual currency exchanges all over the world and it has multiple trading pairs available. Some time ago, Ripple has been added to the UK-based financial application Revolut – something that will open many doors to Ripple. Something similar to what LMAX Exchange did by listing XRP on its platform for institutional investors.
Another important thing to mention about Ripple is that it has developed an incredible solution known as xRapid. The main purpose of this product is to treat liquidity issues in the industry. The product has been recently tested and the results are very promising. Institutions were able to reduce costs and transaction times.
Furthermore, Ripple is signing partnerships with different institutions all over the world. It has been working with the Kuwait Finance House, which announced in twitter that it will join RippleNet for cross border transactions.
KFH is the First Bank in Kuwait to Join RippleNet for cross-boarder Instant Payments utilizing blockchain technology
— Kuwait Finance House (@KFHGroup) May 26, 2018
In addition to it, Ripple is working with dozens of central banks from different countries so as to improve banking services for governments and other private banks.
At the moment of writing this article Ripple is being traded around $0.6 dollars and it has registered a 3.3% increase in the last 24 hours. It is currently the third most important cryptocurrency in the market after Bitcoin (BTC) and Ethereum (ETH).