Ripple’s xRapid Set For Massive Adoption In The U.S Following Bitstamp’s BitLicense, Another Win For XRP

XRP news from one end of the cryptocurrency space to the other has been positive for months now. Companies seem to have stopped worrying about the XRP SEC saga and started moving ahead with their XRP related plans. This is one of the many reasons why the XRP price prediction 2019 is bullish. Another key reason why things are looking for for XRP in XRP news is the promotion of the xRapid protocol by Ripple. Ripple’s xRapid protocol, which uses XRP as liquidity is gradually becoming the gold standard for cross-border remittance. More companies are implementing the protocol and solidifying their use of xRapid. The cryptocurrency exchange, Bitstamp, according to the news on AMBCrypto, recently received its xRapid BitLicense from the New York regulators. This is another win for XRP that will influence the XRP price prediction 2019.

XRP News Today – BitLicense For Bitstamp And The XRP Price Prediction 2019

Yesterday, the acting Financial Services Superintendent of New York State Department of Financial Services [DFS], Linda A. Lacewell said;

“We are pleased to welcome Bitstamp to New York’s growing virtual currency marketplace. A regulated industry protects customers while supporting innovation and ensuring our financial services sector is a vibrant part of New York’s economy.”

Bitstamp also posted the news on its official website and social media pages. With this license, the exchange will be able to provide cryptocurrency trading services within the United States and solidify its hold in the market. While Bitstamp has been providing these services before now, the BitLicense is a stamp of approval from regulators that will not just allow it to provide cryptocurrency transaction services but also to use xRapid to facilitate funds transfer legally. Users will be able to enable funds transfer to the Ripple Network and receive their Ripple balances in the U.S dollar and other currencies.

Not many cryptocurrency exchanges have xRapid payments gateways and Bitstamp is one of the few that do. With the license, the exchange will be able to use the XRPL decentralized exchange for processing transactions. The exchange will also be able to issue crypto and fiat-backed IOUs. The CEO of the company Nejc Kodrič had this to say about the regulatory green light;

“Bitstamp has always embraced regulatory efforts that focus on transparency and accountability to help expand the industry and bridge the gap between the traditional financial and cryptocurrency worlds.”

Replying to the post, a member of the cryptocurrency community asked if buying XRP hasn’t always been available in the United States. The official Bitstamp handle said that the option has always been available but the BitLicense will solidify their stake and increase their presence in the United States.

XRP News Today – How Does This xRapid Announce Affect The XRP Price Prediction 2019?

XRP is currently the third largest cryptocurrency in the world following Bitcoin and Ethereum. At the time of writing, XRP was trading at $0.338793. This means that it is up by 4.77% against the USD and down by 3.94% against BTC. The trading volume over a 24 hour period is $1,486,669,510 and the market capitalization is $14,158,882,828.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.292
2.22%

Even if the XRP current price is red, the cryptocurrency is primed for greatness this year and in the future. By getting a BitLicense, Bitstamp will promote the adoption of xRapid in the United States. This will, in turn, promote the adoption of XRP.

What do you think about the XRP news and XRP price prediction 2019? Will getting the BitLicense promote the use of xRapid and XRP in the United States? Kindly share your thoughts in the comment section.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.