Being in the headlines on a daily basis is undeniably a characteristic that shines for Ripple’s XRP. As we are closing in to the end of the year, a short summarization of the last couple of months would be a read-worthy for any trader or crypto-enthusiasts who is looking forward to 2019.
– One user, who goes by the moniker “IzombieXRP,” asked Changpeng “CZ” Zhao, Binance’s fervent chief executive, to list XRP as a base pair. In response to the quip CZ, being a good sport and all, responded by writing “[be] careful what you wish for,” ending his cryptic message with a cheeky smiley face. And now, just a few days later, Zhao, revealed that his brainchild — Binance — will be adding the aforementioned asset as a “quote (base) shortly.”
– Back in 2016 – Corda, an open source enterprise product, was announced by the blockchain supported software developer R3. Now, it received an additional application named Corda Settler which targets to deliver and offer most services which business would ask to engage blockchain technology.
“The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together. – Gendal Brown – CTO
With the aim to reach global-scale of app utilization, the firm behind the settlement product is already in corporation with over 200 firms in various industries.
– Ripple’s CEO Target: Brad Garlinghouse pointed out clearly the firm’s goal of delivering speedy solutions which take down friction inherent in completing cross-border transactions to banks and financial entities via block-tech by replacing SWIFT.
“The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market…Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”
– In an official press release issued by the MUFG on November 9, 2018, the finance giant announced the signing of a Memorandum of Understanding To Develop A New Cross-Border Payment Service as part of a joint effort between MUFG and Bradesco.
According to MUFG, both parties trust that Ripple Inc, the creator of the XRP is the best option to give life to the project:
“Through this MOU, MUFG Bank has decided to start the collaborative development for cross-border payments between Japan and Brazil, utilizing Ripple’s cutting-edge technology. The new payment system – developed by Ripple, a San Francisco-based software vendor – will assist the banks as they work toward commercializing a high-speed, transparent and traceable cross-border payments solution between Japan and Brazil”.
– In Q3 2018, “XRP Markets Report” shows that Ripple managed to sell $163 Million in XRP, despite the volatility and negative behavior of the overall market. According to the report, $65.27M were sold by the company while the rest were sold by a subsidiary registered as a Money Service Business (XRP II, LLC).
– CoinField has further announced that an exchange system with XRP as the base currency will be available to its customers in 61 countries across the world. Users in these countries will only have to complete a simple KYC (Know Your Customer) process during registration.
– Mid-November: following many position-contesting showcased by XRP towards Ethereum’s second spot by market capitalization, it was able to overtake and stand behind only to Bitcoin.
Because of its highly viewed characteristics when it comes to speed, low fee cross-border transactions and its existing payment system which can challenge SWIFT any-day – many crypto-verse analysts claim that if and when the crypto revolution comes in the tech and financial industry, Ripple’s XRP will be at the front leading the change for the better.