XRP News Today – Currencycloud, Ripple’s Partner, Expands its New Pilot Infrastructure to Fintechs – August 6th, 2020 

Ripple XRP Price Prediction
  • Ripple’s Partner Firm Currencycloud Expands Its Multi-currency Pilot Infrastructure
  • New Companies Signup to Use the Platform 
  • Ripple Continues to Dump Tokens into the Market as XRP Finds Relative Stability 

Ripple News Today – A while ago, Ripple partnered with Currencycloud, a financial services firm that created a multi-currency wallet infrastructure. Since after it successfully joined RippleNet, Curencycloud has sealed deals with many partners across the globe. It has just announced the rollout of payment infrastructure for fintech companies. The product, Currencycloud Spark was introduced last year and the company has been working on it since then. Some of their top customers are Remitr, Starling Bank, TranSwap, and 27 other companies that have joined with more partners to join soon.

Ripple News Today – Currencycloud Spark Opens a Door of Unlimited Possibility for its Clients

Using Currencycloud, these banks can conduct payments in over 30 unique currencies across the globe. All they have to do is set up accounts that allow their clients to send and receive funds through international bank account numbers. What’s more, transactions don’t need to be done in USD or XRP alone, clients can perform transactions in different currencies and each currency can be secured in the wallet efficiently.

Currencycloud allows all of this to happen by creating a multi-currency wallet for each customer. Over thirty fintech firms have already joined the Currencycloud Spark project. Keep in mind that Currencycloud is licensed to operate in the European market. This gives them an edge over other multi-currency payment platforms. Also, helping its clients with a better cross-border payment infrastructure isn’t the only benefit of Currencycloud. It also allows them to make XRP transfers thanks to the partnership with Ripple.

Ripple News Today – Ripple Continues to Dump XRP

New partners of Ripple are typically awarded significant sums of XRP tokens as incentives right after their partnership is complete. They have gotten a bad reputation because of this habit as many members of the cryptocurrency community believe that these XRP incentives are bribes. This morning, they sent 75 million XRP tokens from one of their funding wallets to another. While Ripple didn’t explain the purpose of this transaction, it was most likely an incentive to one of its partners.

In our Ripple news two days ago, we talked about how Ripple’s Q2 report revealed that Ripple increased XRP sales 18 fold compared to Q3. Even if they reduced their selling momentum in Q1, their sales became more aggressive in Q2. Thankfully, the price of XRP token has done well over the last few weeks. At the time of writing, it had found relative stability at $0.300657. It is down by 1.45% against the USD and down by 3.58% against Bitcoin BTC. The trading volume over a 24 hour period is $1,783,954,146 and the market capitalization is $13,488,266,786.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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