Ripple Inc is one of the most capitalized crypto entities, with Ripple (XRP) currently the third largest cryptocurrency in terms of market cap with $14,134 million at the time of press. The adoption and investment by financial institutions have helped out Ripple Inc in recent times.
Ripple Inc Has Offices Across the Globe
For an entity to be indeed capitalized, then it needs to have a presence in virtually all parts of the world. This is one aspect that Ripple Inc has so far been successful. At the moment, Ripple Inc has offices across the globe.
According to Darth Ripple Inc, this is an excellent feature that only Ripple Inc can boast of. The Ripple Inc shareholder tweeted that “Dogecoin, Cardano, Bitcoin, Funcoin, etc. Do they also have offices all over the world just like Ripple Inc? Hodl. But if you don’t have faith in XRP sell it and buy some useless coin maybe it will make you feel better.”
Its presence all over the world has helped spread the XRP message of adoption and usage. Banks and other financial institutions are getting to learn more about Ripple Inc and its cross-border payment systems, and this has helped them make decisions in this regard. Some big financial institutions such as SBI Holdings in Japan, Santander in Spain, and a host of others are now using Ripple Inc’s remittance systems, and this has boosted the use of XRP in the process.
Japanese Banks Invest in SBI’s Ripple Inc Payment App
The capitalization of Ripple Inc has come from some of those big financial companies and the investment they have brought to the XRP ecosystem. Recently, 13 banks in Japan invested in Blockchain installment application MoneyTap that was developed by SBI Holdings and Ripple Inc.
The application makes use of Ripple Inc’s blockchain product xCurrent and would allow banks and other financial institutions to settle transactions instantaneously. The app would work 24 hours a day and would enable clients to send cash from their residential bank to some other organization that has a similar interest in the platform.
According to the post, “Settlement arrangements planned by Ripple Inc are utilized for both local and cross-fringe inter-banking exchanges. For example, Spanish financial gathering Santander is using Ripple Inc’s xCurrent for worldwide cash moves in Spain, Brazil, the United Kingdom, and Poland.”
Large Capital Comes from Institutions
A look at the journey of cryptocurrencies shows that retail investors have powered the rise of the market over the past decade. However, the crypto space is yet to receive adequate attention from some governments and big corporations because the total market cap is relatively small, and is just a fraction of the size of Amazon and Apple, two of the largest companies in the world.
It is therefore crucial that the crypto space gets funding from institutions if they are to become a dominant force in the global financial landscape and Ripple Inc has set out to achieve just that. While most crypto projects roll out products for retail investors, Ripple Inc has been focused on products that would help financial institutions move funds faster and with fewer fees involved.
Ripple Inc is a well-capitalized cryptocurrency entity at the moment, and it is evident that its focus on big financial institutions is one of the reasons behind it. Other cryptocurrencies might follow, but at the moment, XRP is the cryptocurrency best suited to gain massive adoption.