Ripple,
XRP, has shown multiple times that you don’t get to be ranked as the third best
coin over nothing. So, once again this currency with its blockchain ecosystem
is showing supremacy and numerous technological capabilities by having sealed
amazingly promising partnerships already at the beginning of 2018. Let’s see
who partnered up with Ripple and how can this case affect XRP’s status and
price
Monygram
partnered up with Ripple
Moneygram
is one of the top global payment services and the fact that this service
provider partnered up with XRP, tells us a lot about this currency’s potential
in form of the technological abilities its ecosystem has. Moneygram has managed
to see a massive potential Ripple is holding, not only within the world of
cryptocurrencies but wider into the mainstream banking systems. Moneygram and
Ripple have announced their partnership weeks ago on January 11th, 2018.
This
way, Moneygram is working on solving the issue that appears with liquidity and
of which most banking institutions suffer on daily basis. For now, Moneygram is
using XRP through a model that requires working with accounts that are
necessarily funded, but they are working on improving this model. For now, all
global payments with XRP through Moneygram will be done through the xRapid
system. This way, Moneygram is looking forward to solving liquidity issues as
well as process all transactions at lower fees and much faster. XRapid, in this
case, represents a ledger of XRP liquidity system that allows fast and
cost-effective processing of global payments.
IDT
and Mercury FX with Ripple Technology
24th
January of 2018 seems like a great day for Ripple as this currency managed to
get two new partnerships on the board.
IDT
and Mercury FX, which are both dealing with global payments, have partnered up
with XRP for the same reason Moneygram have. The idea behind this partnership
is to provide their users with faster and cost-effective global payment method
that would be able to transfer money anywhere in the world in a matter of only
three seconds. According to the Ripple’s CEO, this payment method is way faster
than making payments with Bitcoin as it allows easily processed transactions
going on in real time and within global proportions.
SBI
Holdings and Ripple
As
of January 30th, Ripple has established another valuable partnership. This time
they partnered up with SBI holdings, which represent a group of Japanese
companies set to launch the SBI virtual currency. SBI will use XRP as the only
digital value supported within their system as of launching of this digital
currency. That way, SBI will be joining the xRapid system which should allow
all users to obtain near full liquidity during cross global payments. That way,
SBI is planning on establishing a strong and stable connection for making
transactions between users in Japan and the rest of the world. Moreover, SBI
holdings are looking to establish a system within their own banking system that
would allow instant conversion of XRP to other currencies as well as JPY.
LianLian
International and Ripple Partnership
RippleNet
has acquired another great partnership, this time partnering up with LianLian
International. This company is one of
the biggest payment service providers in China and with this move they have
made a groundbreaking change in the world of mass global payments. This
partnership was concluded a couple of weeks ago, on February 14th, 2018.
This
partnership has a strategic significance for LianLian International, given the
fact that China has a massive growth in the trading economy thanks to their
link to Amazon, eBay, and Ali Express. The goal of this partnership is to
enable fast and easy payment methods between China and the rest of the world.
LianLian is planning on implementing Ripple’s xCurrent. XCurrent is a solution
that works on powering up cross transactions between China, Europe, and the
United States with unshaken security, which is at the same time LianLian
International’s ultimate goal.
Bank
Testing and other Projects
Ripple
is really stepping up the game in oppose to the most of its competitors as it
is getting more and more acknowledged by the institutions that have been
running on more traditional systems when it comes to global payment methods.
Now, these institutions are looking at Ripple as their alternative to faster
and more secure global transactions, slowly leading this coin to the mainstream
waters and merging the two worlds: the traditional centralized institutions and
the blockchain decentralized ecosystem.
Even
though these two would probably be unimaginable working together only a couple
of years ago, we are now witnessing groundbreaking changes where Ripple as a
blockchain based decentralized value is being used as an alternative to
traditional, much slower global payment methods.
Ripple
has also successfully gone through a series of tests in over 60 banking and
financial institutions in Japan and South Korea. So, it is expected that XRP
will be implemented into more than several banking systems in order to support
global cross payments in near real time.
Ripple
is also working on improving its technical capabilities where they will be
adding extra features to enable even stronger security while also working on
implementing its system in financial institutions in China, Brazil, and India.
By
broadening its outreach and becoming more available for usage, Ripple is also
looking at having XRP’s price consequently raised.
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