Ripple and XRP, the dynamic duo is trying to take over the global payment system which has been outdated for more than four decades.
Ever since the start, Ripple has aimed to revolutionize the financial sector, make it easier to process cross-border payments or even the remittance industry.
With the crypto-frenzy of 2017 coming to an end, the price of XRP had reached lows causing a lot of investors to panic and cash out of their investments despite Ripple’s plans remaining the same.
Speaking with CNBC, Brad Garlinghouse acknowledged how this was true but also confirmed how the XRP community is still hyped about the platform and the features that they plan to bring to the cryptocurrency space. Brad stated:
“People got really excited about the potential of a new platform and the hype got ahead of the reality. That unequivocally has happened in this space… There’s religious fervor around all of them — some people seem to think these are the crusades and this is a holy war is being fought.”
Moreover, with the recent addition of 13 partners, Ripple even announced that their partnerships with financial institutions and banks had exceeded more than 200.
Garlinghouse confirmed that a few of the banks that they partnered with are on board for leveraging XRP to source liquidity on-demand for processing payments, which implies that xRapid is officially being used by some banks.
Some partners decided to use Ripple’s other solutions and APIs to get near-instant settlements so as to comply with regulations. Ripple, now operates in more than 40 countries with successful partnerships.
A Twitter user, @alexcobb tweeted:
“Today the XRP community received some very good news. We now have 5 more institutions that will be leveraging XRP for cross border payments, and even brad is saying that they are seeing “more customers flip the switch and leverage XRP”
Subscribe to AMBCrypto’s Newsletter
Crypto news summary [Jan 16th] – Tron with New Partnerships, Cryptopia Hack and more
Tron [TRX] Technical Analysis: Coin hanging by the bull’s thread
Stolen Ethereum-based tokens transferred to Binance and other top exchanges
Ethereum [ETH/USD] Technical Analysis: Coin takes refuge in bear’s kingdom
Bitcoin [BTC] block halving is 66% complete; next block halving in 495 days
Bitcoin [BTC]: A piggybacking Proof-of-Proof blockchain has almost 20% of Bitcoin’s daily transactions
Bitcoin [BTC]: Kidnappers demand five Bitcoin to return missing nine-year-old in Africa
Ripple’s xRapid customer SendFriend will go live by Q1 in 2019, says CEO David Lighton
Venezuelan government decrees crypto operators to pay taxes in cryptocurrency
Bitcoin SV [BSV] emerges as top gainer with 11% growth; Tron [TRX] continues massive fall
Cryptocurrency trading platforms will be inspected by Bulgarian National Revenue Agency
- Press Release
LIQNET – liquidity focused cryptocurrency exchange
- Press Release
LTO Network offers unique multi-layer architecture and will list soon on BitMax.io
Bitcoin SV [BSV] Technical Analysis: Bears looking to maul BSV