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We’ve been writing a lot of Ripple in the last couple months, and although it may seem like we’re shilling XRP, we’re really not. In fact, I personally have no commitment to XRP as this is being written, but when a crypto is proving its worth, then that’s something nobody should ignore.
Ripple rocketed its way to becoming the second most valuable crypto by market capitalization last year. Over the last few months, XRP has secured several essential partnerships in correlation with their goals.
Euro Exim bank is of the XRP teams’ newest partners. Reported two days ago, the bank will be the world’s first registered bank to utilize xRapid for cross-border transactions. Speaking to Fortune in an interview, Ripple CEO Brad Garlinghouse said:
“This is consistent with Ripple’s vision of XRP as a fast and inexpensive source of liquidity for cross-border transactions. Instead of banks having to maintain foreign bank accounts, the idea is for them to buy XRP with dollars or euros and rely on local market makers to exchange XRP into local currencies.”
That being said, some of Ripple’s partners have claimed that they will not hold any XRP. Rather, they will maximize the coins potential to facilitate international payments.
The additional four companies that are set to ink contracts with Ripple are: SendFriend, FTCS, JNFX and TransPayGo. The businesses have confirmed they will be using XRP to boost liquidity when sending payments overseas.
“2019 is the year the wheat will be separated from the chaff. Not many months ago, the media was saying no one will use XRP, which made for good skeptical headlines, Today, you can’t say that as people are starting to use XRapid because it’s better, faster, and cheaper.”
This news comes barely days after Ripple Labs announced that more than 200 financial institutions had joined its network. The company now operates in over 40 countries across all continents.
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