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Ripple [XRP]’s 1st bank partner, harder than getting a prom date – Asheesh Birla

Ranjitha Shastry



Ripple [XRP]'s 1st bank partner, harder than getting a prom date - Asheesh Birla
Source: Pixabay

Karl Ulrich, professor at Wharton earlier today tweet, with a picture of Asheesh Birla at the Penn Wharton conference talking about Ripple, where he quoted Asheesh telling that ‘getting to sign the first bank for Ripple was harder than getting a prom date’.

To this humorous Tweet by Karl Ulrich, Asheesh Birla reacted stating,

“My mom said I was beautiful on the inside. Just like @ripple :).”

Karl Ulrich's Tweet on Twitter. Source: Twitter

Karl Ulrich’s Tweet | Source: Twitter

Ripple has been working with a lot of Banks, financial corporations, and financial institutions with their digital products xRapid and xCurrent for facilitating cross-border payments and funding real-time liquidity.

Earlier, on April 26th, 2017, Ripple announced the addition of 10 financial institutions which were MUFG, BBVA, SEB, Akbank, Axis Bank, YES BANK, SBI Remit, Cambridge Global Payments, Star One Credit Union and

Commenting on this, Ripple’s CEO Brad Garlinghouse said:

“The world’s largest banks have been the first to adopt Ripple’s technology, and the network effect from our customer base is accelerating.People know Ripple is the only blockchain solution for payments that is proven in the real world, and it’s driving demand from financial institutions of all kinds and sizes because they want to stay ahead of the curve.”

The National Bank of Abu Dhabi was the first Middle East bank to use Ripple for cross-border payment. They signed up with Ripple in February 2017. Ramana Kumar, Managing Director and Head of GTB Business and Product Management had said:

“At NBAD we strive to ensure our offerings are efficient and transparent. Blockchain technology transforms and paves a new way in achieving our goals and better serve our customers, adding value through accessibility and transparency. As an initial adopter and first bank to go live on Ripple, NBAD offers innovative solutions to our clients payments needs.”

On March 1st, 2017, Ripple also made an announcement of signing 47 Japanese banks. This was done using a cloud-based payments platform. This platform was called RC Cloud, powered by Ripple’s solution and which enables real-time money transfers both domestically and internationally.

CEO of SBI Ripple Asia Takashi Okita said:

“Domestic and cross-border payments have been silo processes that are expensive, but RC Cloud allows for a seamless transaction for both types of payments on one platform.”

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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.

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Ripple’s XRP records relatively low 24-hour trading volume even as prices hold above $0.35

Guest Author



Ripple's XRP records low 24-hour trading volume; even as coin trumps in third position
Source: Pixabay

The cryptocurrency market has been exhibiting a bullish trend even as Ripple’s XRP steered its way to major declines last week. The digital coin was hovering below $0.40, with very low price action in 2019. XRP was ranked as the third largest crypto-asset with a market cap of $16.03 billion and a price of $0.38, at press time.

However, XRP’s trading volume of $1.28 billion over the past 24-hours painted a different picture. The coin was trading relatively low in terms of its volume.

Ripple’s partnerships and developments did not seem to have had a significant effect on its native cryptocurrency’s trading volume.

The silver crypto, Litecoin [LTC], which is the fifth largest by market cap, recorded a 24-hour trading volume of $4.27 billion, which is nearly four times that of XRP. EOS, the sixth positioned digital asset, stood at a trading volume of $2.04 billion over the past 24-hours.

If the 24-hour trading volume was taken into account, XRP slipped to the seventh position, followed closely by Tron. TRX was closing in with a 24-hour trading volume $858 million.

According to the CoinMarketCap figures, XRP’s trading volume gained momentum on May 14, 2019, registering a massive $5.83 billion in 24-hour trading volume, priced at $0.32, as compared to $1.97 billion the previous day. However, the digital coin endured huge losses over the month as the volume sank soon after. XRP, however, has maintained its price above $0.35.

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