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Ripple Updates: XRP Going Global, Taking over Swift, Gaming Industry

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Swift is joining up with R3 on blockchain technology. R3 recently made XRP the first cryptocurrency available through its Corda settler product.

Ripple’s biggest competitor Swift is joining up with R3 on blockchain technology. Swift is the dominant player when it comes to international settlements. They currently have 11,000 members global payments network whereas Ripple currently has around 200. They have announced the partnership with the enterprise blockchain custodian R3. Basically Swift and R3 have developed a proof of concept that links Swift’s GIP payments network with R3’s platform to monitor payments flows, settle payments through their banks and receive credit confirmations. Now absent from the announcement was any clear statement that Ripple would play any kind of role in the partnership.

Basically, R3 recently made XRP the first cryptocurrency available through its Corda settler product. Swift’s statement did not mention the Corda settler but R3 in a tweet in a tweet specifically said that Swift will be using R3’s Corda settler.


Role of Ripple’s XRP:

Very interestingly, Brad Garlinghouse, the CEO of Ripple participated in the panel where Swift and R3 made the announcement but there is no direct mention of XRP or Ripple and this is only a trial so there is no guarantee that there are going to be using XRP for anything but that has not stopped XRP exploding on the markets after the announcement because the fantasy of XRP holders is that this will become true. However, it is quite suspicious to see all of the three (Ripple, Swift, and R3) on the same panel.

The CEO of Swift Gottfried Leibbrandt said that the big part of Ripple’s value proposition is the XRP  cryptocurrency, He went on to say that there we do find the banks are hesitant to divert things into cryptocurrency right now because of the volatility in these currencies. Gottfried has already put in his resignation letter and he will be resigning before the trial actually finishes. If the fantasy becomes true, it could be really big for the XRP holders.

 

Euro Exim Bank using XRP for cross border payments:

Euro Exim Bank, a London based bank that is primarily focused on providing financial services for exports and import companies will become the first bank to publicly announce that it is using XRP cryptocurrency for cross-border payments. However, the Euro Exim Bank is a very small bank but it’s a bank nevertheless.

 

Saudi British Bank testing Ripple’s Technology:

The Saudi British Bank said that it is one of the three banks with the go-ahead from the Central Bank of the country to test Ripple’s technology. Ripple’s global head of infrastructure and innovation Dilip Rao has said that Ripple is rapidly expanding its presence in the middle east and has targeted the region as a primary place for the early adoption of blockchain based payment solutions. However, the Saudi British bank has not clarified whether it plans to utilize Ripple’s blockchain based payments solution XCurrent or the XRP powered payment product XRapid which means that they are probably going to use XCurrent. It is still big however to get these big banks onboard but it’s going to be a challenge to move them from XCurrent over to XRapid. They are conservative organizations, they might want to save money and make more money but they actually want to try it and see if it works and if they don’t actually need to use the XRP token, they might just stick on XCurrent.

 

Ripple Selling Huge amounts of XRP:

Ripple has been selling huge amounts of XRP. They have sold half a billion dollars worth of XRP in 2018 and 250 million dollars worth of XRP in just the current week.

 

Ripple Entering the Gaming Industry:

Brad Garlinghouse specifically mentioned that games built on the XRP ledger are coming. Entering the industry would be tough though and it takes more than just the XRP fans to really carry it. There are so many players right now focusing their blockchain specifically on gaming such TRON, NEO, Coco’s BCX etc. So XRP is going to face a lot of challenges while getting in here but considering that they have sold $750 million worth of XRP recently, they have a war chest big enough to have an impact here if they are investing that in this industry. Brad Garlinghouse mentioned at the Davos that the gaming industry is one of the areas where blockchain use is underhyped. He said its incredibly interesting in terms of which underlying blockchain is most efficient. He thinks that they are a couple being built on the XRP ledger and he thinks that it’s going to be a very interesting space to watch in 2019.

 

XRP’s Social Wars

Recently there was a social media war between the XRP army and anybody who calls XRP as Ripple. For example, Kraken came out and said that basically, Ripple was the payment protocol who’s native current is XRP. They are not the only one that is confused. A lot of people are finding confusion that the company having the same name as the protocol. Some claiming that buying XRP, for example, is buying XRP stock and there are a lot of people who never want to hear Ripple mentioned in the same sentence as the XRP because it is very important for Ripple that XRP to not be deemed security. Thus we see the XRP army coming out and correcting the record all the time on anyone who says the opposite. This is kind of a new thing to the extent that we are seeing it happening in the past few months and it is really going to be dependent on the court proceedings that we see going on.

Basically, there has been an effort to rebrand XRP. For example, we saw that XRP did not have its own logo, so they made an XRP logo. But the currency so often has been associated with Ripple. Many people believe that XRP is a product of Ripple Labs because they are the key developers of it. What Ripple Labs really wants to see is to see themselves in the same way that Consensus works with Ethereum.

 

XRP: A Security?

Whether you are an XRP fan or an XRP hater, you should be concerned whether or not XRP ends up being security because just imagine the markets. If XRP is deemed security, it is seriously going to impact the current cryptocurrency markets. It would probably tank the markets in a very big way. Not to mention all the XRP holders who would get wrecked and Ripple labs who would get wrecked but if you are an XRP hater, you would probably be cheering for those things to happen. In the end, this court case is going to take a long time to determine.

 

XRP FUD regarding market cap:

A lot of FUD was going on recently regarding the market cap of XRP. Messari  basically coming out and saying that XRP may have a significantly lower market cap than its advertised on all of the sites where market caps are listed. Things like restrictions around Jeb McCaleb only being allowed to sell a certain amount of his XRP at any given time. There is a very strong narrative on XRP being in the top 5 list of cryptocurrencies that means it is very important for it to stay there. So essentially if there is a much lower market cap and the volume is much lower than it is actually advertised, it means that all these people who have very big interests in XRP, especially the team behind XRP will be able to sell a lot less if the volume is actually much lower than advertised.

 

What are your thoughts on XRP and Ripple? Tell us in the comments section below.

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Ripple: 6 awesome partnerships and 6 things to be excited about XRP

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Let's discuss 6 awesome partnerships made by Ripple so far. Also, we will introduce you to 6 things about Ripple about whom you should be excited.

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.

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SWIFT vs RIPPLE: Rivals not Partners

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Ripple enthusiasts around the world have been debating on the possibility of Ripple and Swift partnering with each other but it could eventually turn false.

Ripple enthusiasts around the world have been debating on the possibility of Ripple and Swift partnering with each other. Earlier, we had analyzed how they are surely going to partner with each other considering the different perspective. Recently, however, it seems that the following possibility could eventually turn false as both of these companies are working hard, not for a partnership but to rather compete with each other.

 

Swift clearly says ‘No’ for a partnership with Ripple

According to an article published on the Finance Magnates, a spokesman of Swift clearly denied any future partnership with Ripple by stating that he does not know where the rumors are coming from and that the upcoming new releases or software updates in the Swift network is not related to RippleNet at any cost. The upcoming standards will ensure the use of tracking reference (UETR) in all payments or transactions allowing backs to track their GPI payments in real-time.

 

Ripple denies too:

Ripple’s chief market strategist, Cory Johnson clarified that the aim of Ripple is to offer a product to directly compete with Swift and eventually replace it. This was revealed by Steven Diep in a tweet on January 3rd this year about his interview video with Cory Johnson stating that Ripple is meant to replace Swift and that the customers of Ripple are using both Ripple as well as Swift at the moment.


Do you think Ripple can replace Swift in the near future keeping in mind the massive amount of customers that Swift already has? Tell us your thoughts in the comments section below.

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XRP Updates: What Ripple really needs to do right now?

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What we really need for XRP more than just price catalysts and more ways to speculate on the price is actual adoption and use.

The National Bank of Kuwait has opened up direct remittances with Jordan using XCurrent but not XRapid. Ripple has many major banking partners with some of the biggest and powerful banks in the world. A lot of these huge banking institutions like XCurrent but no one is really using XRapid yet. What Ripple needs to do is to get people to really use the XRP token. It is very important for the future of the XRP ledger. It’s nice that the banks are using Ripple’s software XCurrent, but for the benefit of the XRP holders, XRapid is the innovation that is needed to be adopted.

 

Regulations:

A big thing holding back wider use of XRP is of course regulations. Regulations in so many countries are holding back basically what could be a tidal wave for XRP. So as they continue to work through these different regulations in multiple jurisdictions all around the world, we will see more and more of these banking partners actually hopping onboard and using the XRP token but it might take some time before that can actually happen. Although not at a large scale still there are some use cases of XRapid currently in areas such as Philippines and Mexico.

Ripple has also been working on getting a lot of exchange partners for XRapid such as Bittrex, Bitstamp, Coins.ph and Bitso which are all working to help bring XRapid to life. For XRP to get to the next level it has to get used by the banks but the banks out of regulatory fears or conservativeness, they are using XCurrent and not XRapid or the XRP token yet.

 

XRP as a base currency on Binance

Binance has added different pairs with XRP as the base currency. Currently, it is paired with only TRON and Zcoin at this time. As time moves forward, we are surely going to see other pairs such as XRP to Litecoin or XRP to Cardano. Although the news does not seem exciting it is really important that XRP does get added in terms of creating value for XRP because the more trading pairs we have, the more volume we are going to have and more people are going to be exposed to it.

 

Large Accounts moving XRP

We have seen some very big accounts pushing a lot of XRP around in the tunes of 90 million XRP or 70 million XRP which are not owned by the company but large whales who are moving it around and probably some of these would be looking to move it to exchanges to dump it into the markets.

 

Uphold’s XRP holdings

Uphold has announced that their largest holding ahead of bitcoin is XRP which shows that there are a lot of XRP enthusiasts who are using uphold. This may be a continuing trend for a lot of different exchanges as XRP is one of the most popular cryptocurrencies.

 

Nasdaq and XRP:

When the Nasdaq cryptocurrency exchange gets launched it seems that XRP would be one of the tokens listed there. This could be a very big catalyst for the price of XRP.

 

What we really need for XRP more than just price catalysts and more ways to speculate on the price is actual adoption and use.

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