Ripple (XPR) is again gaining volatility. After yesterday’s pause and bounce-off, the sellers are hunting for Ripple today.
The pilot program of the platform which allows payment providers to minimize liquidity costs is expected to be launched by the FLEETCOR-owned company.
Ripple has collaborated with two banks and three fast-growing remittance providers who are willing to adopt the blockchain technology for instant payments at reduced costs.
The Saudi Arabian Monetary Authority (SAMA) is the second biggest banking institutions to adopt blockchain technology after the Bank of England.
Ripple is further expanding its footprint by collaborating with many banking as well as financial services institutions.
This is the first money transfer deal from the middle east to establish instant money transfer.