Ripple: 5 more banks will use XRP.

[Paha87]

Ripple announced today that a total of 13 other financial institutions have joined RippleNet, and now the total number is more than 200. Five of the new partners will use the Ripple cryptocurrency (XRP) to provide liquidity. Institutions named in the press release: JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. While they will use XRP to access on-demand liquidity, the remaining 8 will not.

Director of Euro Exim Bank Kaushik Punjani said about the partnership:

As a leader in trade Finance solutions for global corporations and FINTECH companies, we are uniquely positioned to offer new payment channels and ways to generate liquidity. Our clients - whether large corporations or individual senders - have historically been limited in obtaining suitable funds or transacting in a cost-effective and timely manner. Working in partnership with Ripple and selected partners, we have developed, tested and implemented xCurrent and xRapid in record time, and we look forward to the benefits they bring to our customers.

It is noteworthy that most companies added to RippleNet will not use XRP to provide liquidity. They will use RippleNet's settlement layer-Ripple's corporate blockchain-and a network of other institutions for cross-border payments. In particular, BBVA provided a credit platform for Porsche and made major instant international transfers using the Ripple technology stack.

Brad Garlinghouse said about the new RippleNet members:

In 2018, about 100 financial institutions joined RippleNet, and now we are signing two, and sometimes three, new clients a week. Last year, we also saw a 350% increase in the number of customers sending payments, and we're starting to see more customers switching funds and using XRP to provide on-demand liquidity. After all, our goal is to make sure that our customers can provide their customers with excellent and efficient cross - border payments wherever they are.

In fact, the positivity around XRP is increasing as more government regulation comes out on cryptocurrencies. Most importantly, the project aims to be a cryptocurrency that meets regulatory requirements. In other words, XRP is a law-friendly token, because banks and financial institutions are Ripple's target market.

Link to the source of information (Russian) - https://altstake.io/news/ripple-esche-5-bankov-budut-ispolyzovaty-xrp

[alyanov]

Indeed ripple is a banking coin that is very much in demand by many people, so if the ripple becomes a coin that is made in collaboration with other financial institutions, it is a natural thing, and this event can improve the quality of XRP coins to be very valuable, and if we invest funds we are on this coin, it is a very right choice.