Why XRP is the Ideal Solution for Unbanked and Under-banked Areas

Firstly, the goal behind Bitcoin’s creation or the actual reason behind crypto was to reach people in both unbanked and under-banked locations. For some time before any other altcoin came into existence, BTC carried this mantle. However, in recent weeks or better recent history, one crypto has been achieving this goal. That digital asset is XRP. XRP has achieved this seamlessly through its cross-border remittance initiative. The solution is available worldwide. As of press time XRP is trading at $0.330277 according to CoinMarketCap.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.294
1.44%

XRP Price Prediction: XRP Has Been Pushing For Crypto Adoption

Ripple the company and its crypto, XRP, have maintained its position at the forefront of crypto adoption to unbanked and under-banked areas. Ripple has continued to release solutions that will help financial institutions complete faster and cheaper cross-border transactions.

The adoption of Ripple’s XRP token by different payment service providers in many areas around the globe is one important reason why cryptos are typical getting more attention. Only hours ago, one XRPTipBot developer, Wietse Wind, announced that Apple and Google Stores has accepted their XRPayments application. This is one way through which XRP has been driving more adoption.

XRP Price Prediction: Financial Entities Facilitate XRP Adoption

Ripple, in collaboration with several financial institutions across the world have been driving XRP adoption as well. Financial entities have helped adoption. For example, the partnership between XRP and crypto exchanges, such as Bitstamp, Bitso and Coins.ph, is crucial to the adoption of XRP. These three play different essential roles for Ripple the company. Bitso pushes crypto transfers between the United States and Mexico. Likewise, Coins.ph performs a similar function but between the United States and the Philippines. Bitstamp handles the conversion of USD using xRapid.

Another product that Ripple has at disposal for driving adoption is the ILP (InterLedger Protocol). The ILP can be described as an open protocol suite for processing payments across several ledgers. The ILP will pave way for the age of the IoV (internet of value) because it will close the gap between fiat and crypto making way for fast, efficient, and interoperable exchanges to occur.

The ILP’s interoperability nature is crucial because it boosts the potential to force XRP adoption and that of cryptocurrencies globally. Take an example, a mock transaction was conducted using the ILP. The funds were transferred as XRP to ETH in a matter of seconds. But, the general opinion about ILP is that the technology can help the IoV arrive and succeed in the financial framework.

XRP Price Prediction: Launching Services in Unbanked and Under-banked Areas

While it is possible to carryout XRP micropayments via Twitter and Reddit, TipBot launched a similar service via Gmail. The goal is to help boost cryptocurrency adoption in locations that don’t render banking services. Gmail is the most used email service in the world. Hence, allowing users to send funds via the platform is going to play a huge role in pushing crypto adoption overall.

The XRP community is reportedly working to make sure they are integrated by Skype which will automatically allow XRP transfers via its channel in a bid to boost cryptocurrency adoption. It will allow users in unbanked and under-banked locations to conduct cheaper faster transactions.

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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