PNC Bank United States joins RippleNet
Ripple’s technology is not new. The company has been testing its product with banks from a few years now. And while it faced the problem of regulation earlier, it now seems that the company has figured out ways to go about it finally. Banks from around the globe are now partnering with Ripple through RippleNet and Xrapid.
One of United States’s top 10 banks, PNC bank is now a partner of RippleNet and will be able to receive real-time cross border payments, as reported by ripple.com
PNC is estimated to have more than 8 million customers and has branches in 19 states in USA.
Saudi Arabia’s National Commercial Bank joined RippleNet earlier this week
It is a great achievement for ripple when Saudi Arabia’s national bank joins the RippleNet, the reason being that Saudi Arabia is the largest sources of remittances in the world. This means if XRP will now be used for these transactions, the mainstream use of XRP will be boosting.
RippleNet is now active in 40+ Countries
Ripple is very active in making partnerships with banks all over the globe. The company reports to being active in 40 countries across six continents. According to Ripple’s website, this year the global remittances are expected to reach $642 billion. If RippleNet is able to capture even 10% of this initially, the value of RippleNet and ultimately XRP may skyrocket.
Can XRP reach $2?
If all goes at a pace that it is going now, and if banks will have to transit in XRP, that means banks need to first buy XRP, which in itself can be huge buying pressure and will definitely boost the value of XRP. There is no doubt that the coin can settle at $10 as well within a short span of time.
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