Ripple (XRP) and the number of banks signed in 2018 – Crypto Recorder


The foundations of Ripple have penetrated the traditional systems of banks and financial institutions around the world for some time with their two products xCurrent and xVia.

Ripple foundation on head with Brad Garlinghouse, Ripple founder and CEO, has confirmed that the foundation now has about 120 banks and financial institutions that have joined Ripple since its initial launch as ICO in 2015.

Garlinghouse also said in the meantime that Ripple should add another bank each week by the end of the fourth quarter of 2018, adding that many banks will use xRapid instead of xCurrent and xVia in 2019.

By far, RippleNet has added around 20 new banks in the course of 2018, so here is a list of some of the most important partnerships signed by the foundation in the last 365 days.

Ripple and the list of bank partners in 2018

By far, it is said that 11 out of 100 of the best banks in the world have joined RippleNet, the network that revolves around partners that provide support for Ripple and, starting with the most recent events, even XRP.

As more and more banks join RippleNet with "old" partnerships acquiring a new form with the use and testing of xRapid, the only product from the foundations that actually needs XRP, Ripple has acquired important partnerships at the beginning of the fourth quarter of the current year.

Ripple and Lian Lian

In February 2018, Lian Lian, the Chinese payment company, joined Ripple Net along with 100 other banks and financial institutions at the time. Lian Lian, the Chinese payment company and Ripple have signed an agreement to allow Lian Lian to start using xCurrent, one of Ripple's products that does not require XRP.

In this way the bank has obtained access to end-to-end monitoring along with fast and cost-effective remittance payments.

Ripple and Credit Agricole

At the end of January 2018, Credit Agricole began testing Ripple products in order to enable rapid transactions in Swiss francs from Switzerland to France. Later, several months in advance, Credit Agricole and Ripple conclude an agreement, thus officially starting their partnership.

Ripple and Mercury FX

In mid-August 2018, Mercury FX and Ripple announced a mutual agreement in the form of partnerships, after Mercury FX revealed their plan to test Ripple technology in China and Mexico.

The partnership of Ripple and Cuallix takes the ripple on UnionPay, Swift and Master Card

Almost two months ago, in August 2018, Ripple signed a new partnership with Cuallix, a financial institution that brought Ripple to greater exposure by adding remittance payment technology to its existing partners, UnionPay, Swift and Master Card.

Ripple and Retail Saudi Bank

One of the most recent partnerships that Ripple acquired in the third week of September 2018 was signed with the National Retail Bank of Saudi Arabia. The bank has become one of RippleNet's latest partners, intended to provide convenient and immediate global payments with Ripple technology.

Ripple and IndusInd Bank

In February of the current year, Ripple Net got another partnership with a bank, this time signing the deal in New Delhi with a private sector bank called IndusInd Bank, gaining momentum in the growing market in China, India and Brazil.

Ripple and PNC Bank

One of the most important Ripple partnerships of 2018 goes to PNC Bank, one of the top 10 banks in the United States of America, which brings Ripple to a large targeted audience in the United States. The partnership was signed about two weeks ago in September, which brought Ripple to approximately 8 million customers that this bank is currently serving.

Ripple and the combination of five new banking partnerships

Already in April 2018, Ripple scored a rather flattering score after announcing a list of five new banks and financial institutions that have joined the Ripple support network in order to provide better payment solutions for global transactions.

At the time, Ripple has added five more banks in Asia and Europe to its existing partnership list, signing deals with Fair FX, Exchange4Free, Rational FX, MoneyMatch and UniPay, all using xVia for their renewed services.

Starting with the most recent event, Ripple announced the launch of xRapid to more than several banks and financial institutions that are already using xRapid or are testing the XRP-based payment product, which has therefore increased the value of XRP in the last two weeks.

Furthermore, Garlinghouse claims that there will be a large number of banks using xRapid by the end of the fourth quarter of 2018, as well as in 2019.

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