Back to the list

Ripple is the Only Token Issuer to Beat SWIFT to the Emerging Market

source-logo  todaysgazette.com 02 June 2019 04:30, UTC

Replying to a tweet by Ripple CEO, Brad Garlinghouse, about the progress Ripple is making in developing features for blockchain advancement.

The Global Head of Strategy Accounts at Ripple, Marcus Teacher replied to thank the CEO for taking the time to educate him on the impact Ripple is making to enhance the cross-border payment.

Marcus stated how the CEO revealed to him the strategies Ripple is applying on partnership in order to beat SWIFT to the emerging markets.

Ripple Partnership Strategies

While all the focus of the crypto space had been on price performance, Ripple has been working behind the curtains, pushing the crypto to the mainstream. This they have been able to achieve through a partnership with banks and other payment processors.

According to Marcus, Ripple is likely the only token issuer that can meet up with the market demand for digital assets.

Also READ  Nigeria Becomes First African Country To Use Ripple (XRP) Tool

It is currently engaged in activities that will yield a long term result, to create an opportunity for the cryptocurrency to be a perfect alternative for the traditional payment system.

During the discussion at FintechAmericas2019, the present focus is on the features that will enable banks to meet up with the societal demand in payment processing.

These features are blockchain powered decentralized applications and Ripple is the only Fintech presently focused on providing them.

Ripple Recent Partnership

SWIFT has been the grand master in payment processing, for years, to beat SWIFT, Ripple has gone into partnership with traditional banks to provide them with cost-effective and faster tools.

Ripple is in collaboration with SAMA of the Kingdom of Saudi Arabia, this has enabled them to establish a strong ground in Sout Asia and the Middle East.

Also READ  Ripple (XRP) Slashes A Whopping 8% On Average For $30 Billion OFW’s Remittance Market

SBI Remit uses Ripple’s blockchain enterprise solution, xCurrent to power real-time remittance payment between Japan and Thailand.

After opening an office in Dubai, Ripple executive is working with Panelists Simon O’Brien of FSRA to create the modalities for Ripple to explore the UAE.

Disclaimer: Articles on this platform are not written for financial purpose. They are written to educate and inform you of happenings in the cryptocurrency space. Please do personal research before investing in any cryptocurrency because they are generally volatile. In the course of trading, you may lose your fund. Contact financial experts for advice on crypto trading. Share on FacebookShare on TwitterShare on RedditShare on LinkedinShare on PinterestShare on Xing