XRP price continues to stay relatively stable amidst bloodbath in the cryptocurrency market. There have been several developments around Ripple. Distributed ledger technology is expanding all over the world and Ripple is one of the most important companies in the space. Ripple has recently signed up Euro Exim Bank, based out in London, to use Ripple's xRapid service. The CEO of Ripple, Brad Garlinghouse, seems very enthusiastic about future developments in the financial industry as he had predicted the same that most of the financial institutions will be using xRapid for liquidity advantages. Ripple has a financial and banking network that reaches now more than 150 clients all over the world which have also increased the trust of customers in financial institutions that now can process cross-border payments in a faster, more secure and easier way. The bulls might kick off from early 2019 for XRP as it looks stronger as compared to other cryptos at times of volatility.
Recently, Japan’s MUFG Bank announced the signing of a MoU with Banco Bradesco, a Brazil-based banking service. The MoU discussed a partnership between the two organization to create a cross-border payment corridor which would be powered by the Ripple technology. If Ripple successfully ties up with Apple as the investors are working towards and mostly expected to happen in 2019, the value of Ripple will increase significantly. This means that it becomes easier for the ripple holders to encash their holding as well. This would also certainly increase the credibility of Ripple. At the same point, any such tie-up will ensure that more investors would invest in ripple which is why it will significantly propel the price of Ripple forward. Additionally, such association will bring credibility to the entire cryptocurrency industry. It will prove to be the largest such tie-up.
A few days back, National Bank of Kuwait(NBK) has announced that it has launched a new remittance service, (known as NBK direct remit) by joining Ripple's blockchain-based payment network, which can enable instant cross-border payments. It is starting with a remittance window to Jordon, plans to be eventually followed by China, London, Paris, Egypt, UAE, Bahrain, and other countries.
Ripple is consistently adding new clients including some marquee names in the banking world like American Express, Standard Chartered, Axis Bank, Santander and MUFG which helps in tackling the problem of liquidity issues.
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