World Bank Shows Interest in the Cheap and Fast Remittance Service of Ripple Inc.

The technology of Ripple seems to be gaining more traction as more banks, and financial institutions are now running to it. Ripple Inc. provides international payments services, making the transfer of funds from one country to another much more easier, faster, and cheaper. Recently, the cheap and fast remittance services of the firm have attracted the interest of the World Bank.

The Global Knowledge Partnership on Migration and Development – KNOMAD – and the World Bank’s Migration and Remittance Unit in Social Protection and Jobs Global Ledger Technology wants to know more about the cross-border payment solutions of Ripple.

Dilip Rao to Speak at KNOMAD Seminar

The two firms recently invited Dilip Rao to speak at the forthcoming KNOMAD Seminar. Dilip Rao is the Global Head of Infrastructure at Ripple Inc. The seminar is scheduled to take place on the 29th of November. It will be taking place at the World Bank Main Building in Washington DC. According to KNOMAD, the seminar is aimed at unraveling the effect of Distributed Ledger Technology on cross-border payment today.

Nevertheless, the firm said that Dilip Rao would talk about the qualities of Distributed Ledger Technology in terms of transparency, speed, and cost. Over the past months, a lot of financial entities and companies are showing an increased level of interest in Ripple and its products.

Ripple Inc. has several remittance tools. These tools are used to carry out cross-border payments at a faster and cheaper rate. So far, a lot of firms, all over the world, have adopted the remittance tools of Ripples. Some of the products of Ripple Inc. include xVia, RippleNet, xCurrent, and xRapid. xRapid is the latest product of the firm, and the product uses XRP (XRP) to process international payments.

XRP (XRP) Still Remains the Second Most Dominant Digital Currency – 12 Days and Counting

Recently, the crypto market experienced a severe blow. The entire crypto market plunged deeply with digital currencies recording losses of more than 50 percent in a matter of days. Bitcoin (BTC) also declined massively, testing a new level which was last seen in September last year.

Ethereum (ETH) also posted gigantic losses, causing it to lose its position to XRP, which was the third largest digital currency. XRP (XRP) took over the position of Ethereum (ETH), and the digital currency has been holding that position for more than a week now. This is the longest period XRP (XRP) has held that position since 2016.

XRP (XRP) has held the number two spot on the list of top digital currencies for days now. The dominance level of the digital currency is also on the rise. The dominance level of XRP has gotten to a 45-week high of 12.74. XRP (XRP) has been posting some gains despite the massive decline in the market. The digital currency was also affected the contagious plunge, however, it has recorded one of the least losses over the past weeks.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.249
-4.07%

At the time of writing, XRP is changing hands at $0.375 after an increase of more than five percent over the past twenty-four hours. The current market cap of the digital currency is $15.13 billion with a trading volume of $683.62 million over the past twenty-four hours.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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