Cryptocurrency

Ripple continues to expand – Egyptian national Bank joins RippleNet

Ripple in 2020 no support. This Time it is not less than the national Bank of Egypt (NBE). It was reported in the local news channel Youm7. The NBE is the largest Egyptian Bank, and the first member from Egypt, which has joined the RippleNet network of Ripple. As a result, the Bank can now provide cost-effective and fast international payments.

Ripple brings to the Egyptian national Bank to RippleNet

Ripple has already received 300 financial institutions in the RippleNet network. Dalia El-Baz, the Deputy Chairman of the NBE, in the future, an exponential growth for this network. To the question, what are the benefits of will see you through this new partnership, she replied that the NBE will be able to improve their liquidity management and to increase their revenue in foreign currencies.
Currently, only the speech from the RippleNet is. Although the On-Demand Liquidity (ODL) is theoretically directly with XRP as a bridge currency linked but there is still no official statement regarding the use of XRP as a bridge currency on the part of the Bank.

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Opportunities for XRP – the fifth-largest Remissen market

But also for Ripple and XRP are some opportunities through the new partnership. Egypt is the fifth-largest Remissen market in the world, and will reach, according to Ken Research expected to this year, a total of 20.5 billion USD. This total represents the transaction value. Through the partnership with the NBE Ripple can now also open up this market with XRP
Ripple has already made in the Asian region is wide, with other partners, and payment corridors, to the great Remissen-market deduction tyres. The company currently sees the greatest potential in the Remissen markets. There, the technology is needed so desperately as never before. For the workers who want to send from abroad, the hard-earned money to their families back in their homeland, be able to do that soon via an XRP payment corridor of Ripple. Currently, the transfer fees sometimes exceeds the actual amount to be transferred.
Ripple continues to move on the right path. More and more banks and payment service providers interested in the payment solutions of the company. Recently, the Information leaked is that Ripple may be on the verge of a IPO. It remains so even in 2020 exciting to Ripple and XRP. This is not only on XRP course, has experienced this year, his Comeback, and in the short term, a 50% increase, but above all, what happens to the fundamental page. We continue to be tuned and will keep you posted.
The impact of the new partnership Ripple, the XRP price?
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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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