Ripple: 8 Fintechs and 5 Banks Will Utilize XRP Cryptocurrency

Ripple, cryptocurrency solutions for cross-border banking payments, has announced 13 more fintech companies included RippleNet. Now ripple reaches 200+ customers are using RippleNet.  Among these five will use XRP (ripple) digital currency for liquidity. The bank names released in the press are: FTCS, SendFriend, Euro Exim Bank, JNFX and Transpaygo.  Out of thirteen the five banks will use ripple cryptocurrency for liquidity purpose on demand and remaining will not use.

Kaushik Punjani, Director of Euro Exim Bank, said as:

“As a leader in trade finance solutions for global corporates and fintechs, we are uniquely placed to offer new payment channels and ways to source liquidity. Our customers—whether big corporates or individual remitters—have historically been restricted from obtaining suitable funds or settling transactions in a cost efficient and timely manner. Working collaboratively with Ripple and selected counterparts, we have designed, tested and are implementing both xCurrent and xRapid in record time, and we look forward to the benefits these will bring our customers.”

So many financial companies have joined in RippleNet, most of them not using XRP for the liquidity purpose. They are using the RippleNet for cross-border transfers.  Among the companies, some are using for loan and some are for quick immediate international transfers. 

Ripple Price is stable

Ripple’s products RipplNet and xRapid are great to the financial companies.  xRapaid allows instant liquidity via XRP while RippleNet gives to cut down the costs of financial companies.

Ripple is making long relationships with various financial companies.  For crypto investors, XRP is the favorite coin in their investment portfolio.  The company is still making so many developments in their technology and products and give solutions to financial companies.

The CEO of Ripple, Brad Garlinghouse said:

“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.”

There are so many positive things around XRP. If the governments take regulations on the cryptocurrencies, its value will go high.  The XRP is the most user-friendly for banks and financial companies.