Cryptocurrency

Ripple can win 4 new Partner

Ripple has just added four new customers in its network for cross-border payments. The Startup company from San Francisco says that all new customers use RippleNet Cloud. This is a recently released Cloud-based platform, to help banks and financial institutions, the network of Ripple join. No money has to be spent for additional Hardware or personnel.

Ripple with RippleNet Cloud on the rise

New or existing customers can use the Cloud Option, in order to activate the payment message system of the Ripple and the XRP-transfer platform On-Demand Liquidity (ODL).

Among the new RippleNet Cloud customers BCRemit, an Online money transfer service that facilitates payments between the United Kingdom and the Philippines, SpotOn Money, a UK regulated money transfer provider, Lulu International Exchange, an Abu Dhabi-based foreign exchange trading firm, and OrbitRemit, a new Zealand-based money transfer provider.

Ripple currently has, according to its own figures, a total of 17 Cloud customers. For this purpose, Jacques Zylbergeld, FX Superintendent said at the Brazilian Banco Rendimento, one of the customers of RippleNet Cloud:

The Migration of our payments infrastructure to the RippleNet-Cloud allows us to offer our customers a first class experience. The customers now benefit from more transparency and easier Navigation when submitting payments as well as trade. RippleNet also allows us to access global partners, provides a standardized solution and ensures that the integration and on-boarding processes are seamlessly integrated.

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XRP stays outside

Ripple has not specified, whether its new customers use the XRP-based money transfer product ODL of Ripple. Therefore, the impact on the XRP price currently is out of the question. Here, only the unresolved legal status of XRP in a way, but also the lack of liquidity, in order to transfer large volumes is not a Ripple. The ODL-construct keeps current on Market makers provide the liquidity for each of the XRP pairs ready. Such a Market Maker, you could make use of but, theoretically, for any other cryptocurrency as well. Therefore, it is not a USP of XRP.

There is also a Stablecoin is as a bridge currency of big volume, are certainly more than a highly volatile, the Bitcoin exchange rate dependent and rather illiquid Coin. In addition, investors should keep in mind that Ripple and the three main developers of the XRP Ledger sell to a number of large XRP amounts on the market, and thus for an increased supply and a falling price provide.

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How does Ripple and XRP more?

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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