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Marjan Delatinne, head of the Ripple banking sector, recently released an interesting statement. He said banks are not using the xRapid XRP product based on Ripple's because there is not enough clarity in the cryptographic space.
Non-financial institutions choose xRapid on banks
He addressed some reasons why non-financial institutions, on the other hand, are more interested in using xRapid rather than banks to make cross-border payments.
"Just to clarify, no bank is using it, because as you have probably heard, the regulatory framework on the use of digital assets is not very clear to banks, but payment service providers and some other financial institutions are less subject to these obligations, "explained Delatinne.
He wanted to highlight exactly how xRapid works by using the illustration of someone who is sending money from the United States to Mexico. He also said that one of the main cases of use of Ripple is certainly about cross-border payments.
"Imagine you're in the US You have $ 100 and you want to send it to a user or someone in Mexico, then go to the crypto exchange, trade $ 100 on XRP and immediately afterwards XRP is converted back to Mexican pesos and is delivered to the local authority or financial institution that has an account with the encrypted exchange. "
He said that the way it works can hazard the way current liquidity is managed. He believes that xRapid is the best way to show people how encryption can contribute to the growth of the global economy.
XRP enjoys an improved adoption
Ripple's digital resource is celebrating greater adoption with the latest news.
The Travala.com travel site is a so-called AirBnB on the blockchain and brings great news. From now on it will offer more than 550,000 in 210 countries that can be booked with the Ripple digital token.
The Ripple native XRP was also successfully added to the platform, according to the official announcement: "You can now book more than 550,000 hotels in 210 countries using @ripple $ XRP. Travel over 82,000 destinations across the globe. world. "
Rada attended courses in the Faculty of Arts, Romanian-English, and completed the Faculty of Theater and Television, Theatrical Journalism section, both within the framework of the Babes-Bolyai University of Cluj-Napoca. Until now, he has reviewed books, films and theatrical performances, enjoying topics from the cultural niche. His writing experience also intersects the IT niche, since he worked as a content editor for companies that produce software for mobile devices. Collaborate with online advertising agencies, writes articles for different websites and blogs.
