For Ripple and XRP in the next round. The US Fintech company that wants to revolutionize the global payments, has announced a few days ago a partnership with European payment services provider of On-Demand Liquidity (ODL) with XRP for payment in the corridors to use. In connection with the promulgation of the new partnership has Ripple White Rating in a Tweet to‘ s expressed ODL and XRP are very critical.
We’ll look at in this new partnership Ripple in more detail, and to the statement of Weiss Rating a little closer.
Contents
Ripple wins Azimo for ODL with XRP
On Wednesday, the Ripple has officially announced the partnership with the European payment service provider Azimo. Most of them will probably hear this name for the first Time, so here is a short description to Azimo. The company was founded in 2012 and has its headquarters in London. Azimo now supports currencies in 195 countries and 80 different FIAT. The focus is on the Remissen markets, with Asia at the top. In 2016, secured by the company in two Funding rounds, over 31 million. Also, the Japanese E-Commerce giant Rakuten is one of the investors.
The company has integrated ODL with XRP already and used it for the payment of the corridor with the Philippines. In this case, the Azimo plans this year, other corridors with XRP up. Richard Ambrose, CEO of Azimo, said in this connection:
We are interested in a long time for the potential of digital Assets like XRP, in order to make cross-border payments for customers. The ODL solution of the Ripple has reduced the cost and the duration for cross-border credit Transfers significantly, and our customers see the benefits.
White Crypto Rating criticizes Ripple and XPP
More and more companies use ODL with XRP. Currently 12 companies are now some of the ODL users, including MoneyGram, goLance, transf ergo. This clearly shows that already companies to show the payment solution with XRP as a bridge currency a certain interest. But not all are aware of this advantage. So also Weiss Crypto Rating, which are known for their crypto-Rating of the various crypto projects in the past. The Rating Agency has commented on the partnership between Azimo and Ripple on Twitter, and no good words will be lost.
Money transfer service #Azimo will use #Ripple's #ODL service to speed up the fund transfer in Philippines. Why not use #stable coins instead? #USDT is more liquid than #XRP. This would have been a novelty in 2015. Now there are better options than XRP for moving fiat around.
— White Crypto-Ratings (@White Crypto) February 27, 2020
You raise the question in the room, why Azimo ODL with XRP for his payment corridors will benefit, if Stablecoins could be suitable for actually better. They also say that eg. USDT much liquid as XRP and thus here, too, a huge advantage brings. Do you think there are now better possibilities for FIAT to move than with XRP.
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Criticism from the Community and arguments against Stablecoins
This Tweet has sparked a veritable Shitstorm of Ripple and XRP Community. There were not only partially insulting comments, but also arguments that speak against the use of USDT. A point that has been mentioned, is the Counterparty Risk. This means that you have to rely on a Transfer USDT on a company, what is the responsibility that each USDT also has deposited the specified amount of FIAT or a Mix of other Assets. So is adequately covered.
In addition, it was also mentioned that the cost and speed with XRP are not to be compared to. Because the majority of USDT is ERC20 Token on the Ethereum network. With the Update on Ethereum 2.0, the speed could, however, change cost structure in the future. Another counter-argument is that most of the USDT trading volume was either Fake or on exchanges that are not regulated.
Much more interesting is the question of how the use of ODL can affect the XRP price and is is. Until now, the ODL has a volume of increased fallen sharply but the XRP price in the same period, very strong. The increased usage has not necessarily to do with the price fall, but it automatically adjusts itself to the question of how far, the XRP price can support. In addition, we must not forget that 55% of all the XRP are in circulation. These are in the possession of the Ripple and are currently being Sold or in other companies. As a result, the market capitalization is increasing at the same price, and thus increases the selling pressure.
We are curious however, as in the case of Ripple in 2020 will go further and how to do so, the XRP price will behave. We will keep you in all important events and Updates.
Will Ripple with ODL in international payments claim? What are the advantages of XRP to USDT and other stabel coins?
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Ripple with the new partnership for ODL and White Rating with criticism of XRP appeared first on crypto Monday – Decoding the Blockchain