Ripple will Have more Financial Institutions as its Customers
According to the company’s statistics, the network has had an increase of up to 350 by the way. Last year, more than 100 companies switched to their blockchain platform
Ripple, the company of blockchain technology and cryptocurrencies, announced that it will incorporate new financial institutions into its payment network through its RippleNet platform. In addition, it will use XRP in international financial transactions.
In the report offered by the company, it is pointed out that lately more than 15 new financial institutions have been registered in Ripple’s client portfolio, and that they number more than 200 clients from countries such as Sweden and England. With this, the blockchain solutions company is positioned on the platform par excellence, with a presence in more than 40 countries around the world.
About this point, the report issued by Ripple on its blog specified that among the new companies that will be using XRP in their business and international contracts are the companies: JNFX, Euro Exim Bank, Transpaygo, FTCS and SendFriends.
However, it was announced that other companies will use the RippleNet platform for different purposes, such as the Olympia Trust Company, which seeks to have more transparent and almost instantaneous transactions.
Brad Garlinghouse, CEO of the company Ripple, talked about these issues in its blockchain platform. He said that one of the biggest interests of the companies that request these services, is to streamline financial movements and thus be more effective in current business. For this reason, he explained: “A SWIFT transaction takes 3 days on average, and we refer to three (3) business days. Here you face the volatility and the risk of fiduciary markets that close during the weekend”.
Referring to the lack of confidence that some institutions have in cryptocurrencies, Brad said the market is not as unstable as some people think and that traditional markets often also have exorbitant drops.
On the other hand, Ashay Mervyn, Head of Emerging Market Studies of the JNFX company, assured Ripple is a platform of high trust and that it will guarantee transparency and efficiency when making payments of a transnational nature.
“Payments between countries are plagued with inefficiencies: inefficiencies around cost, inefficiencies around speed and inefficiencies around transparency. RippleNet is aimed at addressing these problems. For our clients ranging from the largest conglomerates in Africa (with operations and commitments in more than 40 countries) to individuals in rural villages in Nigeria, our decision to go to RippleNet and use their payment solution, including the XRP for liquidity Upon request, it simply makes sense”, he said.
Brad Garlinghouse hopes that more customers can learn about the solutions offered by the RippleNet company to financial institutions that seek to improve the speed and efficiency of their services, since, according to their criteria, the transactions conducted through the SWIFT platform congest and delay their hiring and ask that they have confidence in the new market of cryptocurrencies and, above all, in the advances of blockchain technology in the international market.
By María Rodríguez