It is no secret to anyone that Ripple (XRP) became the darling of cryptocurrency investors over the last few years.
This asset, which is effectively centralized and relies on a permissioned blockchain, has been racking up partnerships with financial institutions worldwide. The promise of cheap, instant transactions across borders and the allure of blockchain technology, are hard to ignore. That is probably why Brazilian financial institutions are jumping in on the Ripple bandwagon, but does this mean that investors should be looking at picking up more XRP?
Powerful players partner up with Ripple
It is tempting to go into Ripple because the project is partnering up with powerful players in one of the biggest economies in the world. Ripple launched operations in Brazil in 2019, partnering with banking giants such as Santander and Bradesco. This is part of Ripple’s wider strategy of racking up partnerships all around the world. The strategy is great for Ripple and the banks; expanding those deals to include more financial institutions also bodes well for their business.
If you’re keen to get involved in the Ripple game, you can buy and trade and learn more about XRP on eToro, a trusted multi-asset platform that’s been in the game longer than your new investment.
Read More here:
http://www.finsmes.com/2020/01/ripple-plans-to-expand-partnerships-with-brazilian-banks-in-2020.html