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Ripple-backed InstaReM’s CEO talks about advancing financial inclusion by improving remittance methods




InstaReM's CEO talks about advancing financial inclusion by improving existing remittance methodsInstaReM's CEO talks about advancing financial inclusion by improving existing remittance methods
Source: Unsplash

InstaReM’s CEO, Prajit Nanu, spoke to Ripple’s Asheesh Birla about advancing financial inclusion worldwide and how he plans to achieve it.

Ripple-backed InstaReM is a digital cross-border money transfer service provider that entered the European market in 2018. Headquartered in Singapore, InstaReM has customers spread across 35+ countries, and is at the forefront of fintech innovation in Southeast Asia.

Prajit Nanu spoke about the 7-8% fees on remittances worldwide and how it was higher in some Southeast Asian markets where the need for affordable money was the greatest. He added that financial inclusion can be improved by building an “ecosystem of companion products, including insurance, that can be used in tandem with remittances to improve financial stability.”

The Ripple Insight blog by Asheesh Birla said,

“… Prajit is focused on helping InstaReM customers by reducing the cost and enhancing the speed of its remittance services. By improving both, InstaReM is able to deliver greater impact while also expanding its market share.
For InstaReM, Ripple eliminates the need to prefund accounts in a number of countries, enabling real-time transactions at a fraction of the cost compared to the traditional methods.”

Prajit Nanu acknowledged that liquidity was a big factor when it came to remittances, stating that Ripple was helping InstaReM with it. Nanu also added that they had eliminated pre-funding by utilizing Ripple’s corridors in the Philippines and Mexico, allowing InstaReM to send any amount of money instantly without batching or increasing overall transaction volumes.

InstaReM started its journey as a money transfer service provider in Australia in 2015. According to the World Bank, InstaReM has been the most competitive remittance platform in several Asian corridors, such as Australia to India, Malaysia, the Philippines, and Vietnam through three consecutive quarters.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?




Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
Source: Unsplash

Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:


In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:


XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.

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