Ripple: What’s been Happening?
Ripple XRP has grown to become one of the biggest digital assets in the cryptocurrency space. From being an underdog, the cryptocurrency currently sits as the third largest digital asset in the world, in terms of market capitalization. You don’t have to look too far to see why XRP is amongst the cryptos in the center stage. The crypto and company behind it, Ripple Labs have sealed significant partnership with the FinTech Industry, and it’s been from one positive news to another. Let’s look at some of the recent strides the crypto has made.
Partnership with Kuwait Finance House
On May 29, one of the largest Islamic banks in the world, the Kuwait Finance House (KFH) announced partnering with Ripple. By joining over 100 financial institutions on RippleNet, the bank will be able to offer cross-border transactions instantly and in a secured manner. However, it wasn’t disclosed which Ripple product the bank will be using; xVia, xCurrent, XRP, or xRapid.
Listings on Major Platforms
In addition to partnering with financial institutions, Ripple has been listed on major exchange platforms. Notable and recent mentions include its listing on Apple stocks APP, Revolut, and Uphold. Revolut is a big player that allows digital account holders perform p2p transactions. Uphold on the other hand is a major trading platform with over 1000 trading pairs with options to buy digital assets.
Ripple has also had its fair share of public attention. Top actor, Ashton Kutcher donated $4 million live on the Ellen DeGeneres’s Show. He proved that Ripple is a payment solution for the future. Donations were completed in just 15 seconds through a cross-border payment to Ellen’s Wildlife Fund in Rwanda.
Other Worthy Mentions
The fact is that the list of Ripple partnerships is almost endless. And this will shine some like on the entire crypto market if several cryptos follow suit (some are doing quite well). Still on the list of notable partnerships, InstaREM and BeeTech, revealed their intentions to try out the blockchain tech of Ripple to facilitate payments.
Fernando Pavani, the CEO of BeeTech commenting on the partnership said that “[Ripple gives its clients] ability to send payments and access new suppliers across more than 60 markets through xVia, or a simple API connection.”
CEO of InstaREM, Prajity Nanu also noted that: “European consumers to get what they want when they transfer money across borders: speed and the lowest possible rates.”
Possible Increase in Prices
To conclude this article, let’s briefly highlight Ripple’s meeting with banking industry members in Dubai, this week. One of the subjects of the meeting will be incorporation of xCurrent and RippleNet. Both products are already adopted in a network of over 100 banks globally.
The team published in an official blog post some interesting facts:
“The decentralized network of banks across the world is over 100 strong. Next week in Dubai, members of the network will meet in Dubai, members of the network will meet to forge new connections and discuss how they use Ripple technology – sharing lessons learned and best practices.”
Rumors have it that the conference in Dubai will speed up the rate of Ripple’s adoption.