- XRP adoption in almost all Japanese Bank
- Ripple aims for XRP Expansion in Brazil
According to a report by CipherTrace CEO David Jevans, almost every Japanese bank is incorporating Ripple’s XRP. Jevans made this statement at the annual Rakuten Technology Conference, he went thus:
“So, there are over 1,600 cryptocurrencies that use blockchain. All of us have probably heard about Bitcoin, some of us about Ethereum. In Japan, almost every bank is starting to work with what is called XRP.”
So far, Ripple can be said to have a stronghold in Japan, previously in 2018, SBI Ripple Asia, a partnership with Japanese financial service company SBI Holdings, launched MoneyTap. This consumer-aimed app that depends on Ripple’s technology to permit transferring money with the aid of a phone number or QR code.
Early November this year, it was reported that Fukushima Bank formed a partnership with SBI Holdings to use MoneyTap. Before then, other prominent Japanese banks like Kita-Nippon have already incorporated a Ripple-powered payment solution.
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Adding to the growth earlier this month, Ripple’s University Blockchain Research Initiative (UBRI) added the University of Tokyo to the network of its higher educational institutions. 2019 has been a great year for Ripple, regardless of the steady price decline of its native token XRP, the company has exceeded 300 customers this year.
Ripple Aims for XRP Expansion in Brazil
Still, on expansion and adoption of its token, Ripple is aiming for XRP expansion in Brazil, the company is set to announce new banking partnership in early 2020. Ripple managing director Luiz Antonio Sacco states that the country’s flawless digital banking regulations are influencing the company’s expansion into Brazil, and Ripple is already speaking with banks and regulations about incorporating XRP for remittances. Ripple is already working with Bradesco, Rendimento and Santander Brasil, which use the company’s payment messaging system. Although, none of these companies are using XRP yet.
Back in July, Ripple launched its new office in Brazil and according to Sacco, about 30% of Ripple’s overall transaction volume is now moving via the country. Commenting on this, he went thus:
“We’re excited to grow our ecosystem in the region and bring additional financial institutions onto RippleNet to help provide excellent, efficient cross-border payment experiences for their customers. Brazil is a leader in fintech innovation and positioned to forge a path for the rest of Latin America to follow.”
XRP (XRP) Price Today – XRP / USD
Also, apart from Brazil, Ripple is aimed at growing in several South American countries including Peru, Argentina, and Chile.