It has not been a very lucky week for Ripple [XRP] with its dramatic declines and minor positive graphs. XRP has declined another 13.74% in the past 24 hours but has continued to retain its 3rd position in the market. Things might not be going according to Ripple team’s agenda but the believers need not be disappointed as the entire market is under a bearish grip right now.
On a positive note, they have a new Chief Market Strategist in the house. Brad Garlinghouse tweeted earlier this morning:
Yes! You read it right; Bloomberg TV’s Cory Johnson is now a part of Ripple’s extraordinary team. Cory has worked with Bloomberg TV for about 8 years now. He used to cover technology on TV and Radio. He joined Ripple’s team on Thursday during the volatile period of this 6-year-old company.
Cory Johnson states his views about Ripple:
“The role of Ripple as a company and XRP as a currency in financial markets, to regulators, financial institutions and investors could use more explaining, I’m going to try and explain, listen and set strategies to make it easy for Wall Street and the world of finance to understand what we’re doing.”
Some of the ecstatic XRP followers tweeted on this news:
“This is likely a very good hire. I watch Cory Johnson quite often on the “Bloomberg Technology” program. He strikes me as very knowledgeable, insightful and clear in his thinking and communication.”
Jean, another Twitter user says:
“Work with the government, work with the media = XRP #1 crypto.. great step ripple!!”
While there were few unhappy speculators as well who stated:
“What a slimy move, a representative of a major journalistic outlet of influence shouldn’t have a vested interest in the company.”
According to CNBC reports, Cory Johnson will work closely with Ripple’s CFO, Ron Will. As part of his job description, he will be connecting closely and interacting with the investors while explaining to them about the company and the coin itself.
After being in the company for a few hours, Johnson made a statement:
“These people move a thousand miles a minute around the globe like their pants are on fire.”
Market stagnation had kept Ripple under the limelight throughout the last month and market speculators have been pointing out the sloth growth in the crypto market. Ripple currently holds a value of $0.789. Ripple has sold $91.6 million worth of the currency in its fourth quarter.
With already many partnerships in hand, it is curious to see what Cory Johnson’s next move is going to be.
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Ripple partners with Brazil’s Front Exchange to launch Simple to ease cross-border remittance
Ripple has been living true to its motto of promoting cross-border payments with low transaction fee lately with a barrage of partnerships and other developments. Last week, Ripple-backed remittance providers such as InstaReM and MoneyNetint made the news by partnering with banks in order to simplify cross-border transactions. After the partnership between BeeTech with Ripple-backed MoneyNetint, another Brazil-based exchange broker, Frente Corretora de Câmbio or The Front Exchange has partnered with Ripple to launch ‘Simple’, a platform created to cater international remittance and tourism exchange.
As cited on the exchange’s website, The Front launched the Simple platform for providing remittance and tourism exchange in partnership with Ripple. Simple will enable Brazilians to make cross-border payments, starting June 2019.
Carlos Brown, the co-founder of Front Exchange, commented on the launch of Simple and said,
“Simple’s user is the average citizen, who has a child living outside the country, for example. This public does not make large remittances, it is a money for the family, and this percentage charged by the institutions ends up swallowing a very large part of the value.”
Brown further claimed that the platform would not charge any transaction fee, but will be based on the gain of spread that the transaction delivered. The correspondents associated with the exchange would act as a FinTech, which would help in the growth of operations. Brown stated:
“We want to win with a high amount of operations and not with a very high spread, like traditional financial institutions.”
The Front Exchange recently opened a representative office in Miami and is looking forward to set-up two more representative offices in Boston and New York. The Central Bank ranked the broker exchange as the 15th largest currency brokerage in Brazil. With the partnership with Ripple and the launch of Simple, the exchange is expected to climb to the fifth place by the end of the year.
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