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The success of Ripple in 2018 was quite evident, despite the crypto market bear run that has overshadowed most of the year. In a recent interview, the Ripple & # 39; s Customer Success SVP Marcus Treacher shed light on RippleNet's market uptake to date.
He touched on the accessibility of this product by saying that a good number of the target market was able to exploit the service through its financial institutions.
Being the last episode of Ripple Drop, Marcus started reflecting the company's successes in the last year. RippleNet was among those milestones that Marcus highlighted and said that the company has made efforts to connect more than 40 countries by developing a suitable network that can integrate financial institutions.
Basically, RippleNet is a network that financial service providers can integrate to communicate P2P with each other, then using the Ripple solution for payment services worldwide.
Marcus Treacher noted that the company has formed a couple of important partnerships that have facilitated the publication of RippleNet. Some of these stakeholders include payment providers for large and small caps, while banks have also played an important role.
In addition, Ripple established guidelines for RippleNet participants during 2018. These sets of rules that are intended to govern financial institutions are identified in the RippleNet community. According to Treacher, this approach offers network participants a level playing field, so the opportunity to collaborate with others in the ecosystem based on their built Ripple networks. Marcus Treacher he talked a lot about this goal;
"When you do that sort of thing, we play the turning point that is what the flywheel really starts to spin and we are witnessing a big change in how our customers are behaving in 2018"
What followed was a discussion of how Ripple's services were practically applied to the financial markets. Marcus cited Santander Bank, whose main operations are in Europe, the SVP customer service said the bank has developed One Pay FX. This road, which is based on RippleNet, has since allowed the retail customers of Santander bank to exploit the Ripple ecosystem in the transfer of payments.
Another problem that Marcus has commented on has been the absorption of Ripple by other consumers as well as Santander. On this, he said that there was a positive response even if the team is currently focused on understanding the Santander model to allow other participants in the network to develop efficient applications. Marcus also noticed other entities who had gone to live with Ripple's products;
"Thus, for example, CIMB became active very recently with Ripple incorporated in their speed […] Transfiguration in the UK has implemented Ripple within their payment app. In this way it is creating a true global network of payment capacity with blockchain and is starting to bring the Internet to life "
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