Ripple [XRP]: Ripple's platform now supports over 200 institutional clients

Ripple revealed that thirteen business entities were added to its payment platform thus extending the number of institutional clients to a record of 200. The recent additions showed Ripple's growing influence on international borders as institutions emerged from several countries like Bahrain, Kuwait, Canada and Brazil.

Of the 13 new additions, 5 companies opted for the use of the Ripple cryptocurrency to exploit liquidity while the rest has resorted to the use of the platform without involving the Ripple cryptocurrency.

The companies that have opted to use the cryptocurrency platforms for the associated liquidity include FTCS, SendFriend is Euro Exim Bank. With Ripple's cryptocurrency, the designated financial entities will have the distinct advantage of being able to settle cross-border payments without having to prefix the accounts in the destination countries. Added to this is the ability to perform more efficient and low-cost transactions than the usual traditional methods.

Those who have chosen not to use Ripple's cryptocurrency are far from being spared the immense benefits the system offers. Through superior network technology and advanced application programming interface (API), companies will be able to process payments with absolute efficiency and transparency. The best officials of some of the companies involved expressed their excitement for development. The founder of SendFriend, David Lighton, commented on the matter by saying that:

"The current banking system is slow, inefficient and expensive, and SendFriend was founded at MIT with the conviction that there must be a better way to send payments and we are excited to work with Ripple to do just that. partnership, we are bringing our customers a new generation blockchain payment solution that leverages XRP to solve many of the problems of efficiency and equity with existing remittances, which means cheaper and faster payments for them. "

A similar reaction was expressed by one of the directors within the JNFX group that said that:

"For our customers ranging from the largest African conglomerates (with operations and commitments in over 40 countries) to people in rural Nigeria villages, we decide to join RippleNet and use their payment solution, including XRP for on-going liquidity. demand, it makes sense. "

To date, RippleNet the operations cover around 40 countries on all continents, thus further confirming the exceptional growth that the entity has seen in recent years.