Ripple solutions are second to none when it comes to facilitating payments; and financial institutions all over the world as well as governments are beginning to take notice.
What makes Ripple so attractive?
Since the entry of Bitcoin into the scene a decade ago, the biggest handicap that has held back cryptos and made them unattractive to governments, and financial institutions is the volatility in price, as well as their lack of balance. These have also served as the daggers used to stab cryptos with, while in the hands of bitter crypto cynics.
XRP appears to have gotten over these handicaps and achieved stability, which has seen central banks and other financial institutions line up to make use of ripple and its remittance technology. This simple fact was acknowledged by Ripple in a tweet which stated that XRP is very stable, and for that reason, governments and financial institutions are keeping a close eye on it.
Cryptos caught the eye of the World Bank about a year ago, after the organization revealed that it had taken notice of the innovative power of cryptos. The World Bank acknowledged the role of cryptos in putting pressure on cross-border networks and stated that it would link the most successful cryptos with legal tender and issued by central banks.
Big Institutions working with Ripple
According to XRPcryptowolf, there are roughly 40 to 50 central banks currently working with ripple alongside the World Bank and IMF. Banks are also actively looking into crypto in a bid to understand the technology and possibly issue a central bank digital currency (CBDC).
According to PandaRippleXRP, the stability of Ripple over the past few years has seen it now focused on boosting adoption.
According to the XRP enthusiast;
“What #Ripple has been more focused on these days is promoting the adoption of its solutions and XRP has been enjoying more listings, and it’s been used by more financial entities to send money across borders,”
Ripple has been clear about its primary objective, with the firm seeking to replace SWIFT as the dominant cross-border payment system in the world. Ripple’s products such as Xrapid, Xcurrent and others have made it easier for banks to carry out cross border transactions.
XRP’s stability certainly has instilled a lot of confidence in the crypto-currency. The endorsement from the world bank last year was a big boost, but what keeps endearing the crypto to more investors is the increasing partnerships its getting involved in. even cynics are beginning to succumb to the idea that, ‘the proof is in the partnerships’
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