Rising Interest In Ripple: After Binance, It’s eToro
“Start Trading One of the World’s Most Exciting Cryptocurrencies,” wrote eToro on its website when in late December 2018, the social trading and investment platform added XRP on its wallet and to its platform to “Buy XRP or sell XRP CFDs on one account.”
Now, according to the latest video that recently surfaced online, eToro CEO, Yoni Assia shared his interest in forming a partnership with Ripple. In the interview that took place in January at Paris Fintech Forum. Assia says, Blockchain is going to disrupt the fintech space and as a fintech company it is important to foster relationships with other fintech companies.
“We are one of the largest trading platforms for XRP so very interested in forming a relationship with Ripple Labs and understanding what we can do together.”
Recently, Binance CEO, Changpeng Zhao had shared similar “interest” in partnering up with XRP-powered xRapid, one of the Ripple products as he stated,
“We’re focused on launching more features right now [on Binance], so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future, we’ll definitely want to add them [Ripple] as a partner.”
According to Ripple, they have already over 200 banks and financial institutions working with them.
Ripple Gaining Ground In Islamic Countries
Amidst the JP Morgan launching its very own digital coin, JPM Coin, that is presenting a direct threat to Ripple, Ripple acquired another partnership in the form of Kuwaiti bank, Al Ahli Bank of Kuwait (ABK) that has joined RippleNet to enable instant cross-border settlements for its customers. Regarding this collaboration, Somnath Menon, the group chief operating officer at ABK said,
“This partnership with Ripple is aligned with our unwavering philosophy of reimagining a simpler bank. We have significant interests in cross border remittances and plan to harness the power of Blockchain technology for making global payments faster and more convenient for our customers.”
Recently, Ripple also confirmed that the company in collaboration with Saudi Arabian Monetary Authority (SAMA) is offering a pilot program for local banks where 2 banks will be using xCurrent and will be going live in quarter 1 of this year.
Dilip Rao, the global head of infrastructure innovation at Ripple said,
“SAMA is leading the charge as the first central bank to provide resources to domestic banks that want to enable instant payments using Ripple’s innovative blockchain solution.”
Meanwhile, XRP just got the 44th fiat currency in the form of IRR (Iranian Rial) that will be tradeable with it. Norbitex, a cryptocurrency exchange made the announcement which is also a proponent of cross border transactions. At the time of writing, the third-largest cryptocurrency has been trading at $0.30 with 24-hours gains of 0.05 percent.