Ripple (XRP) may still be ranked third among cryptocurrencies with almost 10% of the cumulative market cap of all cryptos: $33,745,193,420 (USD). However, with a trading value of $0.86, Ripple falls far behind from its contemporaries. A 24-hour trading value of $838,122,000 (USD) further shows that Ripple has solidified its position as a top altcoin regardless of its trading value.
Unlike most other cryptos striving to be a working real world asset, Ripple has worked its way into wide spread usage, targeted at transforming the payment industry, using its consensus and proof-of-work blockchain model. Here are some of the top news related to Ripple.
Ripple (XRP) is Working on MoneyTap in Japan
If you are an avid follower of Ripple, or a crypto enthusiast, you are sure to know a little about Ripple and their work towards improving and transforming the payment and finance industry. March 7th saw Ripple announce a new project, MoneyTap.
MoneyTap is a mobile app that will allow users send funds instantaneously, around the clock to other banks in Japan. Ripple started this project with the support of 61 Japanese banks. With integration of blockchain into bank transactions, the goal is to improve efficiency, and reduce interest rates, creating room for maximum profits.
The project would be ready for Beta testing for three of the lenders; SBI Sumishin Net Bank Ltd., Suruga Bank Ltd., and Resona Bank Ltd, By the year, the mobile app is expected to be available to customers of the banks, other banks are expected to introduce the app to their customers in the next three to four years. Another great feat towards improving payments and the finance industry by Ripple in Asia.
Ripple’s Growing Partnership List Adds Cambridge Global Payments
Cambridge Global Payments on March 1st joined five major financial institutions that have publicly announced their pilot of xRapid. Cambridge Global payments is a subsidiary of FLEETCOR Technologies, and currently has over 13,000 global clients and handles over $20 Billion annually.
The U.S digital payments company has long been using its blockchain model to improve the financial industry. With financial institutions turning to the blockchain solution to their longstanding traditional payment methods, Ripple has been proffering the needed solutions.
As a result, Ripple has gotten into a number of global partnerships with MoneyGram, Cuallix, IDT corporation, Western Union, Mercury FX, and recently, Cambridge Global Payments. These financial institutions have partnered with Ripple, using xRapid for payments to pursue a faster, more efficient and cost friendly transactions.
Coinbase to Include Ripple into Its Trading List?
Ripple saw some much expected growth on Monday, landing the coin over the $1 trading mark (from which it has dropped) amid renewed speculations that one of the most popular exchange platforms Coinbase, would enlist Ripple into its trading. However, Coinbase officially rejected renewed rumors that might soon be introduced to the platform.
In a Nutshell
Ripple (XRP) may be low in terms of valuation today, but that doesn’t dispute the fact that Ripple is one of the most functional Altcoin in the market. With the partnerships and drive of Ripple in the financial sector, time is all that is needed for price spikes, the low valuation of Ripple today opens great investment opportunities.