Ripple News Today – Ripple Lands New Partnership With Cambridge Global Payments, What Does This Mean for the Company – October 16th, 2020

  • Cambridge Global Has Partnered with Ripple for Global B2B Platform
  • Ripple Needs More Partners to Reach its Goal of Global Adoption
  • Ripple Swell is Still Ongoing but the XRP Token Hasn’t Gathered Momentum 

Ripple News Today – Ripple has successfully signed a new deal with Cambridge Global Payments. Ripple’s financial network depends significantly on its partnership with other financial firms. Granted, Ripple has developed a system that is faster, cheaper, and more efficient for transferring value than the current system. However, the efficiency of their products doesn’t matter if the financial institutions don’t use it. The good news is that Ripple has made a lot of progress when it comes to partnerships with some of the most renowned financial institutions in the world.

Ripple News Today – What Does The Partnership With Cambridge Global Payments Entail

Cambridge Global Payments is one of the best FLEETCOR companies in the world. They deal with international transactions and would make perfect partners for Ripple. Thanks to their partnership with Ripple, Cambridge Global Payments will be able to make their international transactions instantly. Cambridge has an existing system which is much more expensive and slower than Ripple’s technology. In some cases, international payments take up to days or weeks to be processed successfully.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020

Cambridge Global Payments will be able to create cross-border payment solutions for their B2B clients using Ripple’s technology. This is according to the press release by the company. Mark Frey, the CEO of Cambridge Global Payments said that they are in a relationship with Ripple for good reasons. In his words;

“We entered into the relationship with Ripple because it presented Cambridge a great opportunity to use distributed ledger technology to reduce the amount of time it takes for customers to pay their overseas vendors”.

According to the press release, the pilot phase of the partnership was a huge success. Deposit to vendors who used Siam Commercial Bank cut the cost for international transactions by up to 99%. The time for the transaction was almost instant. This was amazing since transactions usually take 2 days or more. Ripple is making a lot of progress but they still have a long way to go if they are going to achieve global adoption.

Ripple News Today – Ripple Swell is Still Ongoing but the XRP Token Hasn’t Gathered Momentum

In other news, the Ripple Swell conference is still ongoing. Executives from different parts of the FinTech industry have been giving speeches since the beginning of the conference. Unfortunately, the XRP token hasn’t gotten any price boost from the conference. At the time of writing, the price of the token was $0.242452. It is down by 1.36% against the USD and down by 1.72%against Bitcoin BTC. The trading volume over a 24 hour period was $1,706,077,865 and the market capitalization was $10,967,631,986.

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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