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Ripple’s Brad Garlinghouse says, financial institutions are self-assured to “flip the switch”

Namrata Shukla

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Ripple's Brad Garlinghouse says, financial institutions are self-assured to "flip the switch"
Source: Pixabay

The Chief Executive Officer [CEO] of Ripple, Brad Garlinghouse said that banks and financial institutions are self-assured to “flip the switch” and integrate the digital asset XRP. In a recent interview with Fortune, the San Francisco payment startup CEO talked about his belief of the 200 banks and financial institutions that have joined hands with Ripple’s network are getting prepped up to utilize xRapid, that uses XRP to boost cross-border payments.

Garlinghouse said:

“This is the year the wheat will be separated from the chaff. Not many months ago, the media was saying no one will use XRP, which made for good skeptical headlines. Today, you can’t say that, as people are starting to use xRapid because it’s better, faster and cheaper.”

Ripple received good news from Euro Exim Bank, as they announced to be the first bank to commercially implement xRapid to power payments for its customer base. Exim, which has branches in London and St. Lucia, said that it will begin using xRapid in the first quarter of 2019, reported the publication. The bank aims to make use of the digital asset to power payments in 80 countries around the world for its customers.

Euro Exim is one amongst the five companies that will use XRP to power payments on behalf of their clients. The others are namely, JNFX- a London-based foreign exchange firm, SendFriend -New York-based fintech for global remittance market, Transpaygo- Vienna-based fintech for mobile payments, and Financial Transaction Control Systems [FTCS]- Stockholm-based company building financial infrastructure, reported the publication.



Ripple is responsible for about 60% of the total XRP supply and has the majority of its XRP locked away in escrow. However, the company regularly sells portions of its holding to institutions and cryptocurrency exchanges.

At the time of press, XRP, the second largest coin was valued at $0.3239 with a market cap of $13 billion. The 24-hour trade volume of the coin was reported to be $554 million with a dip of 2.61% over the past day.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

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Binance coin [BNB] registers growth over 5% following Binance’s DEX launch hint; XRP too spikes by over 5%

Namrata Shukla

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Binance coin [BNB] note growth over 5% following Binance's DEX launch hint; XRP too spikes by over 5%
Source: Pixabay

The cryptocurrency market as of April 18, saw a rise in the price of XRP, the third largest cryptocurrency, along with Binance Coin [BNB], which stands on the seventh place, on CoinMarketCap list.

XRP

At press time, XRP noted 5.47% of growth in the past day. The growth is speculated to be the result of Coinbase pro opening services at 11 more countries including, Argentina, Mexico, Colombia, India, Hong Kong, and New Zealand. At press time, XRP was valued at $0.3415 with a market cap of $14.33 billion. The 24-hour trading volume was noted to be $1.31 billion, as XRP noted a minimal growth of 0.37% within an hour. In the past seven days, it has noted the growth of 1.22%.

Source: Trading view

Source: Trading view

The third largest cryptocurrency was highly traded on ZBG exchange with XRP/USDT pair and the reported volume of $204 million. However, the trade volume comparatively fell to $82 million on BW.com with XRP/USDT pair. The third exchange to note $70 million in volume was Bit-z with XRP/USDT pair.

Binance Coin [BNB]



At press time, BNB was spiking by 5.48% over the past day, after the Twitter post by Binance that hinted at the launch of its DEX. At press time, BNB was valued at $20.73 with a market cap of $2.92 billion. The 24-hour trading volume of BNB was noted to be $270 million, as the coin noted a 0.41% rise in its price within an hour. In the past seven days, BNB noted tremendous growth of 18.58%.

Source: Trading view

Source: Trading view

Binance Coin was highly traded on Bit-Z, as it noted a trading volume of $74 million with BNB/BTC pair. The second and third place was taken by the coin’s home exchange Binance with BNB/USDT and BNB/BTC pairs, respectively. The BNB/USDT pair was traded with a volume of $56 million, while on the BNB/BTC pair registered $41 million in trading volume.





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