[ad_1]
Ripple as a whole has been multifaceted since the beginning, and this is because it is not really built for retail services, but to provide a means by which financial institutions can have the ability to make transactions easier. and fast.
Because of the perspectives behind Ripple, a more meaningful partnership has emerged (much better than it had with systems like Banco Santander and American Express) and guess what? It involves the Bank of America.
Speculation arose after Bank of America representatives met behind closed doors with Ripple (XRP) people to discuss a possible partnership last week.
Before today, Banco Santander has partnered with Ripple. Santander has announced that he will use Ripple & # 39; s xCurrent to execute global payments. Now, the Bank of America is presumably following the lawsuit in an attempt to use its technology.
XRP is looking for solutions and Bank of America has announced that it will offer solutions for custody of cryptocurrencies, with an EMA cross and 50/100 bingo. Entering this just based on previous XRP hype and rally. Current plan: #xrp #ripple pic.twitter.com/MEEvIJBZfj
– Crypto Badger (@CrypticDecision) 5 November 2018
So far, some of the financial institutions that have recently collaborated with Ripple include MUFG Bank, Siam Commercial Bank, WestPac and SBI to name a few. Ripple seems to be a force to deal with global payments, and many other financial institutions are beginning to recognize its importance.
In offering to make cross-border payments easier, faster and cheaper, Ripple has three systems: xCurrent, xRapid and xVia. However, xRapid was launched not so long ago, and at the time of launch, the price of XRP had a slight increase in its market value. Since the launch of xRapid, many financial institutions such as MoneyGram and Western Union have affirmed their credibility and praised Ripple's technology.
In addition to being a client, Bank of America is also a member of the Ripplenet committee. This gives feedback to Ripple to guide the way it evolves for banks. It could be that simple.
– Steve (@ xBulletproof1) November 12, 2018
It is important to note that xRapid is made for financial institutions that want to reduce liquidity costs. xRapid not only helps reduce liquidity costs, but also protects financial institutions from the hassles of cross-border payments.
It is possible that in the coming days we may see another increase in the price of XRP following the announcement of the Ripple partnership with the Bank of America. Of course, if the news is confirmed, it will be enormous.
Although the effective start date of Ripple's xRapid daily business is not yet clear, it is clear that Bank of America, Banco Santander and others are in line on how to use Ripple's blockchain within its own payment infrastructure.
Not a good number of digital resources offering what Ripple does, even if they are, do not have the solution to offer the best use cases like Ripple.
In fact, even if some crypto-fanatics disapprove Ripple once mentioned, the digital asset – no doubt – has excellent prospects and use cases. This is what the Bank of America is probably seeing and does not care about what the odds are. In that case, we should expect a lot in the coming days.
Overview of XRP prices
After the rumors about the partnership with the Bank of America, the price of Ripple's RPP has started to move steadily and is in the green (of a fraction), while other important cryptocurrencies are exchanged in red right now. At the time of writing, the price of XRP is $ 0.5198 with a market capitalization of $ 20.902,329.639.
For real-time business alerts and a daily distribution of encrypted markets, subscribe to Elite membership!
Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Flickr
[ad_2]Source link
