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Generally it is assumed that financial institutions, as well as banks, will be the first to adopt Ripple (XRP). Until now, most banks and financial institutions have adopted Ripple (XRP) on an experimental basis. However, they are not using the ripple to initiate remittances on a large scale. This is why there is often a debate about whether banks and financial institutions actually adopt Ripple (XRP) or not.
Which entities will be faster to adopt Ripple (XRP)?
According to Ross D & # 39; Arcy, director of sales of Ripple, even banks and financial institutions will not finally have an option, but adopt Ripple (XRP), but thinks that the first entities will adopt Ripple (XRP) large-scale they will be the smallest companies. This is because smaller companies will save a significant amount of money by using RippleNet products to initiate remittances and transfers compared to the traditional banking system. This is why he thinks they will be taking RippleNet first.
At the same time, he quickly added that RippleNet products actually solve real problems. Precisely for this reason, in the end, banks, as well as financial institutions, will also have to adopt the RippleNet product. The greater the added value of RippleNet products, the faster it will be to adopt them.
He also said that for banks and financial institutions to adopt RippleNet products, cryptocurrency will have to become more regulated. Only when it is stabilized and more regulated and considered a digital asset, banks and financial institutions will accept it. Until then, adoption will increase but it will not become mainstream. Therefore, Ripple (XRP) believes that smaller entities, as well as smaller companies, are a good match for ripple (XRP).
At the same time, it also draws on individual migrants who start cross-border referrals. They can easily transfer their currency into Ripple tokens (XRP) to their counterparts around the world. However, volatility prevented most migrants from using RippleNet products in order to initiate cross-border remittances.
With this statement by Ripple (XRP) it became quite clear that Ripple (XRP) will focus on smaller entities 1 and once cryptocurrencies become stable, they will increase their drive to promote RippleNet products to banks and financial institutions.
