Ripple is breaking all sorts of traditional financial trends. In recent news, Mercury FX has made their most substantial payment from the UK to Mexico using XRP. The amount was valued at £3,521.67 which in US dollar terms is equal to around $4552.
London-based Euro Exim Bank will become the first financial institution to fully integrate the XRP-powered xRapid in the first quarter of this year.
London-based Euro Exim Bank will become the first bank to publicly announce using the XRP cryptocurrency for cross-border payments. Meanwhile, RippleNet managed to achieve next milestone scoring 200 consumers worldwide.
National Bank of Kuwait has joined Ripple’s blockchain-based payments network seeking faster cross-border money transfers. The bank announced the launched of the new remittance service, that enables “immediate” payments using Ripple tech.
Compared to its peers, Bitcoin and Ethereum, Ripple has the wealthiest community in terms of project support. There is no doubt that throughout this year, Ripple has shown that it can bring the biggest names to its list of followers.
XRP has been pretty much asleep for a very long time and as we are approaching the end of 2018, the much-needed news about Ripple’s partnerships with major financial institutions have started erupting in the crypto-space.
While the entire crypto market is in a downturn following the hard fork, Ripple and their XRP are faring the best, pulling ahead of ETH by market cap, becoming the number two cryptocurrency.
The RippleNet frenzy continues to win over the regions of Asia, as starting from now, the company streamlines cross-border payments of Malaysian banking group CIMB.
Potential integration between SWIFT and Ripple, which would make Ripple’s products available to 4,000 new banks, is a faked rumour.
XRP is still slightly moving down on Thursday Nov 8, trading at $0.5169, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex.