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Ripple celebrates a massive start to 2019; XRP used for liquidity sourcing confirmed by Brad Garlinghouse



Ripple celebrates a massive start to 2019; XRP used for liquidity sourcing confirmed by Brad Garlinghouse
Source: Unsplash

Ripple, the company that is changing the remittance industry and the banking sector just announced that their partnerships with banks and other financial institutions have exceeded more than 200.

Ripple has been busy the whole of 2018 and as per their recent blog post they have announced new partnerships with 13 financial institutions namely,  Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND and Rendimento.

The blog stated:

“JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank will leverage the digital asset XRP to source liquidity on-demand when sending payments on behalf of their customers.”

For banks and financial institutions that are hesitant in using the digital asset, XRP, Ripple is providing them with their technology and modern APIs for immediate settlement and more transparent payments.

Brad Garlinghouse, CEO of Ripple stated:

“In 2018, nearly 100 financial institutions joined RippleNet, and we’re now signing two—sometimes three—new customers per week. We also saw a 350 percent increase last year in customers sending live payments, and we’re beginning to see more customers flip the switch and leverage XRP for on-demand liquidity.
At the end of the day, our goal is to make sure our customers can provide excellent, efficient cross-border payments experiences for their customers, wherever they are in the world.”

Moreover, notable people at Ripple were extremely happy with this accomplishment which was clearly visible through their tweets.

Brad Garlinghouse tweeted:

Dilip Rao, the Global Head, Infrastructure Innovation at Ripple tweeted:

“200 Production Clients – amazing milestone for @Ripple ! The run rate of 100 new clients signed in 2018 shows product:market fit – #0doubt #xrpthestandard”

Asheesh Birla, the SVP, Product at Ripple tweeted:

“Nothing inspires our teams at Ripple than more customers building and expanding their business using Ripple products! Excited to further accelerate this in 2019!”

There have been some speculations in the Twitter community about the prices of XRP shooting up soon as Brad Garlinghouse mentioned that some of their customers are using XRP.

Elliot Hancock tweeted:

“I’m finding it hard to see what positive news other than regulatory clarity from the states will move the price of XRP forwards. Either way that’s fine for me and in the meantime happy to watch the Ripple team go from strength to strength.”

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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.