In recent reports, Ripple, the leading blockchain company in the fintech and GMT sector, the largest financial services company with 250 branches, has started a partnership to mutually benefit from the remittance sector. The Israeli company will act as a representative of Ripple in the country to give it a global advantage.
On its official website, GMT wrote that Ripple chose the company as a partner after a long process in which the goal was to create a global financial system with new progress. In the words of GMT:
"After a long and precise process, GMT was chosen to be the representative of Ripple in Israel, joining Ripple and its partners in creating a global financial system, with high-level technology and values such as transparency and costs. accessible "
In addition, GMT will connect its business with several international Ripple partners, such as AmericanExpress, MoneyGram, AKBANK, Earthport, CIBC and many others.
In terms of adoption and global partnerships, Ripple has shown a lot of progress this year. Starting with the most recent result, XRP, the digital resource created by Ripple was chosen as the first settlement mechanism for a Corda settler.
In another successful story, it was found that Ripple executives interact and agree on some points related to the regulatory framework with the International Monetary Fund official [IMF].
Recently, Christine Lagarde, the head of the IMF, gave a speech in which she admitted the fact that money, as we now see, is changing. This was discussed in the context of the introduction of digital resources in the fintech space and blockchain technology in another way.
In addition, international banks such as Siam Commercial Bank, Thailand are also using Ripple technology as they have recently integrated RippleNet's multi-hop functionality to their advantage. In fact, one of RippleNet's products, xRapid, a product that was built to meet the speed and efficiency requirements in terms of costs in the remittance sector, was also adopted in October.
With all that is happening for Ripple, blockchain technology and cryptocurrency space have also benefited from widespread adoption.
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