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The Ripple network seems to be adopted by an ever-increasing number of banks day by day as cryptic "awareness" continually encourages more and more financial organizations to subscribe to Ripple technology.
Reports emerged on the value of Ripple that other banks and payment processing platforms have finally achieved. Decentralized financial instruments and the money that can be saved using the Ripple network are phenomenal, which is providing strong encouragement for many to jump on the Ripple network.
Last year, Ripple CEO Brad Garlinghouse interviewed Bloomberg for an interview in which he discussed the hundreds of banks that collaborated with the Ripple platform. According to Garlinghouse, they are "Solving problems in scale" that the network focuses on solving specific problems for the financial sector. Second ZyCrypto, "Every week, dozens of contracts are signed with banks, remittance companies and other financial institutions, which have shown interest and acceptance of Ripple's financial instruments".
Garlinghouse predicted that there were so many banks that they would eventually turn to Ripple's platform. The CEO of Ripple made a big prediction at the European Fintech conference of Money 20/20 in Amsterdam stating that there will be a large number of banks that will enter the Ripple network saying: "I have publicly stated that by the end of this year I have full confidence that large banks will use XRapid as a liquidity tool."
One of the largest banks in the world was the first to join the Ripple network, such as AK Bank, Cambridge Global payment, Axis Bank, YES BANK, Star One Credit Union and many others.
One of the most recent additions to the Ripple partnership is the National Bank of Kuwait which has just launched a new remittance service called NBK Direct Remit. The Kuwait finance house has just launched its immediate cross-border remittance service at no cost.
In addition to solving liquidity problems, Ripple's decentralized financial instruments are the best application for processing cross-border payments.
Today in today's markets, the Ripple XRP native token is turning red after a decrease of 1.25% in the last 24 hours. The current third largest cryptocurrency in the world is worth 36 cents and has a market capitalization of $ 14,807,643,549 at the present time.
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