Ripple (XRP) price spikes after the CEO asks for "Global Framework" and Bash Bitcoin

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Ripple (XRP) gained 4% today, once again gaining ground on ethereum as the second cryptocurrency in the world by market capitalization after Ripple's chief executive, Brad Garlinghouse, called for a "global framework" for payments and called bitcoins for its flaws.

Garlinghouse told Bloomberg, it is Ripple "to solve a problem of cross-border payments" and that the value of any digital asset will be "based on its ability to solve problems."

Garlinghouse & nbsp; he talked about the technology of his company during the Singapore Fintech Festival, telling Bloomberg, "XRP is 1,000 times faster and cheaper than bitcoin," the original & nbsp; and the largest cryptocurrency for market value.

Garlinghouse has also faced speculation and rumors that Ripple could partner with rival Swift, the international payment processor owned by the world's largest banks. & Nbsp;Garlinghouse indicated that Ripple could eventually take over from Swift as the default international payment processor. & Nbsp;

"The technologies used today by the banks that Swift developed decades ago did not actually evolve or keep pace with the market," Garlinghouse said. "Swift said that not so long ago they did not see blockchain as a solution for the corresponding banking system – we have over 100 of our customers claiming they do not agree."

"What we are doing and doing on a daily basis is, indeed, taking control of Swift," he & nbsp; he added.

The last jump in Ripple prices gives the cryptocurrency a market capitalization of $ 21 billion, just under $ 21.5 billion of ethereum according to the data of CoinMarketCapat the time of publication.

Ripple, the & nbsp; common name for the exchangeable XRP token, had a phenomenal number of a few months banks around the world experiment with & nbsp; the United States company & nbsp; Ripple, which worked to optimize the global payments network with its payment protocol and the exchange network.

However, XRP is down 80% from its peak as most of the major cryptocurrencies re-adjust after the huge "bull" of last year. The price of ripple rose to more than $ 3 last year, from just $ 0.006 it started in the year to. It is now trading at just over $ 0.40, giving it a market capitalization of $ 21 billion, making it the third most valuable digital asset.

Ripple's most popular product, & nbsp; xCurrent, & nbsp; helps banks regulate international transactions using blockchain to confirm transactions in real time at each stage of a cross-border payment and at the beginning of the year the company has made fun of xRapid, a similar system that uses the token exchangeable XRP directly.

The September xRapid announcement pushed up the price of XRP as traders and investors bet that an increase in the take-up of the financial services industry would result in a greater demand for tokens.

Garlinghouse also spoke with the deputy general councilor of the International Monetary Fund Ross Leckow at the Singapore Fintech FestivalIn Lecklow, the regulatory environment towards blockchain and cryptocurrencies in Asia is encouraging.

"Regulatory clarity has a great ability to drive the digital asset and the adoption of blockchain It is surprising how many markets still have uncertainty, but in ASEAN, the regulatory environment for blockchain and digital resource technology is clear.

"Several countries have contributed to this, including Singapore, Thailand and the Philippines, in particular, Thailand has introduced a framework that balances consumer protection with innovation, legalizes various digital resources, including XRP, and provides clear and explicit guidelines to make external blockchain companies work.

"The East Asian markets received $ 130 billion of inbound payments only last year, they are expensive and the market is ripe for the adoption of new technologies, such as blockchain, to drastically reduce costs. "

Meanwhile, Japan Mitsubishi UFJ Financial Group (MUFG) announced last week is collaborating with Banco Bradesco of Brazil on a new cross-border payment service based on Ripple technology.

According to MUFG, "the new payment system will assist banks in their work towards the marketing of a high-speed, transparent and traceable cross-border payment solution between Japan and Brazil."

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Ripple (XRP) gained 4% today, again gaining ground on ethereum as the world's second cryptocurrency by market capitalization after Ripple's managing director, Brad Garlinghouse, called for a "global framework" for payments and he called bitcoin for his failures.

Garlinghouse told Bloomberg that Ripple "solves a problem of cross-border payments" and that the value of any digital asset will be "based on its ability to solve problems".

Garlinghouse talked about the technology of his company during the Singapore Fintech Festival, in Bloomberg, "XRP is 1,000 times faster and cheaper than bitcoin", the original and largest cryptocurrency for market value.

Garlinghouse has also faced speculation and rumors that Ripple could partner with rival Swift, the international payment processor owned by the world's largest banks. Garlinghouse indicated that Ripple could eventually take over from Swift as the default international payment processor.

"The technologies used today by the banks that Swift developed decades ago did not actually evolve or keep pace with the market," said Garlinghouse. "Swift said that not so long ago they did not see blockchain as a solution for the corresponding banking sector – we have over 100 of their customers claiming they do not agree".

"What we are doing and performing on a daily basis is, indeed, taking control of Swift," he added.

The last jump in Ripple's prices gives the cryptocurrency a market capitalization of $ 21 billion, just under $ 21.5 billion of ethereum according to CoinMarketCap data, at the time of publication.

Ripple, the common name for the exchangeable XRP token, had an incredible month when banks around the world experienced the technology of the US company Ripple, which worked to optimize the global payment network with its payment protocol and the exchange network.

However, XRP is down 80% from its peak, as most of the major cryptocurrencies re-adjust after the last bull rush last year. The price of ripple rose to more than $ 3 last year, compared to only $ 0.006 at the beginning of the year. It is now trading at just over $ 0.40, giving a market capitalization of $ 21 billion, making it the third most valuable digital asset.

Ripple's most popular product, xCurrent, helps banks regulate international transactions using blockchain to confirm transactions in real time at each stage of a cross-border payment and at the start of the year the company has teased xRapid, a similar system that uses the exchangeable XRP token directly.

The September xRapid announcement boosted the price of XRP as traders and investors bet that an increase in the take-up of the financial services industry would result in greater demand for the token.

Garlinghouse also spoke with the deputy general councilor of the International Monetary Fund Ross Leckow at the Singapore Fintech Festival, telling Lecklow that the regulatory environment towards blockchain and cryptocurrency in Asia is encouraging.

"Regulatory clarity has a tremendous ability to drive digital assets and the adoption of blockchain: it is surprising how many markets still have uncertainty, but in the ASEAN the regulatory environment for the blockchain and digital resource technology is clear.

"Several countries have contributed to this, including Singapore, Thailand and the Philippines, in particular Thailand has introduced a framework that balances consumer protection with innovation, legalizes various digital resources, including XRP, and provides guidelines clear and explicit for external companies to blockchain operate.

"East Asian markets have received $ 130 billion in remittance payments only last year, they are expensive and the market is ripe for the adoption of new technologies, such as blockchain, to drastically reduce "costs.

Meanwhile, the Mitsubishi UFJ Financial Group (MUFG) of Japan announced last week that it will collaborate with Banco Bradesco in Brazil on a new cross-border payment service based on Ripple technology.

According to MUFG, "the new payment system will assist banks in their work to market a high-speed, transparent and traceable cross-border payment solution between Japan and Brazil".