Business support and new evolutions play an essential role in the success of any business. Every successful company has a massive list of partners. Especially for a startup or a company in a new domain, there is always a need for financial and market support. Also, if any business has to sustain in the market for an extended period, it must go on the development and try to bring better services to its customer. Ripple has already made a significant mark on crypto space. It currently occupies the third position as per market cap in crypto space. And it has become possible only due to some formidable partnerships and evolution in technique.
In this article, we will discuss six effective partnerships made by Ripple so far. Also, we will introduce you to 6 things about Ripple about whom you should be excited.
Six Awesome Partnerships by Ripple:
1. Partnership with Moneygram:
One of the top international payment services in the world, Moneygram partnered up with Ripple. The potential and blockchain technology of Ripple has not hidden anymore. Moneygram visualized this capability and started the hand of partnership towards Ripple. It was a fantastic offer for Ripple to widen its hold onto the market and hence, Ripple and Moneygram announced their collaboration in the crypto market on 11 January 2018.
2. Partnership with IDT and Mercury FX:
IDT and Mercury FX both are among the top global payment service providers. The crypto space was suffering from the problem of the slow transaction and then come IDT and Mercury FX, collaborating with Ripple. They announced their partnership on 24 January 2018. The main aim of this collaboration was to make the payment method of Ripple much faster than its competitors. This partnership was unusual for Ripple to expand itself.
3. Partnership with SBI Holdings:
After bagging two above great partnership in a single month of January 2018, another collaboration of SBI Holding with Ripple was announced on 30 January 2018. SBI Holding refers to the Japanese group of companies which are set to launch its own virtual currency, i.e., SBI virtual currency. SBI announced that it would use only Ripple blockchain within their system for starting their virtual currency. This partnership resulted in the spread of Ripple XRP in Asia and especially Japan.
4. Partnership with a series of banks in various countries:
We all know that without the cooperation of banks, it is tough to run any financial market. Even, crypto space indirectly needs the support of banks, and therefore, Ripple XRP is continuously making the partnership with various banks in different countries. It has already made collaboration with around 60 banks in South Korea and Japan and is working on the projects with the banks of China, Brazil, and India.
5. Partnership with LianLian International:
Ripple was aware of the role of the Chinese market in the enhancement of crypto space. China has already lifted other big companies like Amazon, eBay. Therefore Ripple approached LianLian Internationals to have a grip over the investors of this country. LianLian is the biggest payment service provider in China, and with the partnership of Ripple with this China-based company on 14 February 2018, Ripple introduced its global identity in the world.
6. Partnership with American Express:
American Express is a US-based multinational finance organization. It is one of the largest finance company throughout the globe. In November 2017, Ripple announced a partnership with American Express. The main idea of this partnership was to enable the American Express customer Of United States to send the non-card payment to the United Kingdom. This partnership is one of the unusual move made by Ripple XRP.
Six upcoming exciting moves by Ripple:
1. The announcement of 11 More Universities to its Blockchain Initiative Program:
Ripple conducts regular workshops and program to increase the awareness of crypto and blockchain among ordinary people. It performs a Blockchain Initiative program at the university level to let the college students know about this technology and future place in the education system. It recently announced that it will add 11 more universities to its blockchain initiative program which are Carnegie Mellon University, Duke University, University of Kansas, Morgan State University, Northeastern University, Institute for Fintech Research, Tsinghua University, Cornell University, Georgetown University, University of Michigan, the National University of Singapore and University of Sao Paulo.
2. Partnership with Binance:
XRP was continuously trying to have a collaboration with Binance for a very long time in terms of making XRP a base currency for trading. Binance is a global exchange for cryptocurrencies, and with the following partnership with binance, Ripple XRP wants to have a great exchange system with itself. They have been successful in their mission, and currently, two cryptocurrencies are being traded with XRP as a base currency on binance, i.e., TRX and XZC. More cryptocurrencies will be added in the list in near future.
3. XRP in the Gaming Industry:
Many organizations are aiming their blockchain technology in gaming technology. However, none of them is so much global as Ripple is. Ripple XRP is aiming for the games that will be work on the XRP ledger. The gaming industry is still not so much shaken up with cryptocurrencies and hence, if XRP ledger based games are successful, it could act as a catalyst for both Ripple as well as Crytpo space. The planned year is 2019, so be prepared, who knows we can listen to an announcement regarding the same in upcoming days!
4. Testing of Ripple by Saudi British Bank:
The crypto market has not expanded much in middle east countries like the UAE. However, the cryptoanalyst recently heard relief news regarding it when Saudi Britsh Bank announced that they would be testing the Ripple. However, just testing doesn’t mean significant as per the financial perspective, but as per the business perspective, this means that now middle eas countries are now taking an interest in Ripple and crypto market. Even, Ripple Global Head welcomed this move by Saudi Britsh Bank.
5. Connection with NASDAQ:
NASDAQ stands for National Association of Securities Dealers Quotation Exchange. It is the second largest stock exchange in the world as per its market cap. Ripple has been planning to have a partnership with NASDAQ and to launch a platform in this area. Now, since Bakkt, a platform by world’s largest stock exchange is collaborating with bitcoin, we can surely assume the collaboration of two competitors of ICE and bitcoin, i.e., the partnership of NASDAQ and Ripple. And if it happens, it could surely help the crypto space to rise.
6. Use of XRP by SendFriend:
SendFriend came into the news with the news of having a fund of $1.7 million from various big companies such as Barclays, 2020 ventures. It is the next-generation remittance service and one of the fast way to send money. However, the news boosted up ripple and crypto space when Sendfriend announced to use XRP as a medium for cross border payments. It is working actually for the transformation of US dollars to XRP to PHP. If it happened in the future, it would sure help the ripple and crypto space to rise once again.