Ripple Inc. is aimed at being one of the most preferred choices for profit enterprises in the next couple of years as it extends its arm of partnership with major banks all over the world. The xCurrent and xRapid products of the firm have been adopted by more than 100 banks across the globe and more financial institutions are looking to take advantage of the technology.
Why More Banks Are Using the Products of Ripple
The products of Ripple are being adopted by a lot of financial institutions all over the world because of its low transaction fees and fast transaction speed. Banks in Germany have been searching for the adoption of Ripple technologies and blockchain tech has already found a solid ground in the nation.
Ripple Was In Talks with “Many German Banks”
In an interview, the Head of Banking in Ripple – Marjan Delatinne, said that the firm was in talks with a lot of German banks while in Berlin. This response was as a result of a question about the overall presence of partnerships across the globe from the US, Europe, Japan, and lack of presence in Germany. Marjan was a business director at SWIFT but later moved to Ripple Inc. last year bringing so many promises to the blockchain-based firm.
The only known bank in partnership with Ripple in Germany is Riesebank, owned by the largest bank in Germany – DZ Bank AG. The chances of other financial institutions joining the adoption of Ripple products gives fans hope to see blockchain pioneered economics.
XRP (XRP) Price Today – XRP / USD
At the time of writing, XRP is trading at $0.3 after a decrease of about 1.5 percent over the past twenty-four hours. The market cap of the digital currency is $11.86 billion and its trading volume over the twenty-four hours is $181.43 million.