Why Ripple (XRP) is the Lady in Red for Banks

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Ripple (XRP) is the 3rd largest and fastest growing digital currency and innovatively changing the world of cryptocurrency and Global Financial World with great efficiency and remarkable innovations. It was founded in 2012 by Chris Larsen and Jed McCaleb and headquartered at San Francisco, California. The company is the creator and developer of the Ripple Payment Protocol and Exchange Network initially called Opencoin but in 2015 was renamed Ripple (XRP) labs. The financial technology company has Brad Garlinghouse as CEO.

RIPPLE VS TRADITIONAL TRANSFER PAYMENT AND SETTLEMENTS

I. Ripple (XRP) provides rich information exchange while traditional method provides minimal information.

II. Ripple's liquidity provision is purely the implementation of an automated instant auction for liquidity provision and FX assuring best execution of prices while the traditional methods use fixed correspondent.

III. Ripple (XRP) provides currency conversion, while the traditional methods have no conversion option.

IV. It takes seconds for Ripple (XRP) while traditional methods require three to four days to consulate payments and settle transactions.

WHY RIPPLE IS THE LADY IN RED FOR BANKS

Ripple (XRP) has a very special unique and incomparable focus that endeared it to banking and financial institutions adopting it as better banking and financial solution for globalized cross-border, interstate and interbank payments and settlements option. XRP is highly bank-centric.

Ripple (XRP) offers near to instant transfers and settlements for banks and financial institutions within the seconds at a cheaper fee than all other existing coins, like Bitcoin (BTC) that takes up to 10 minutes or payment. It's incredibly cheap, removing lifting fees, board rates charges by SWIFT network and every other hidden charge. It also eliminates Nostro accounts.

BANK ADOPTION AND PARTNERSHIP WITH RIPPLE (XRP)

Mitsubishi UFJ Financial Group, Inc. (MUFG), which has assets amounting to $2.6 trillion and is the world's fifth-largest bank, was one of the first customers to join Ripplenet. Credit Agricole, which is third largest Bank in Europe with $1.82 trillion worth of assets, Santander (Santander launched the first mobile app for global payments using Ripple's xCurrent), Mizuho Financial Group, Axis Bank, based in India, Standard Chartered Bank, based in Singapore and Rak Bank, based in United Arab Emirates, have all joined the Ripplenet.

There are over 75 Banks and financial institutions using Ripple (XRP) and over 30 others experimenting with Ripple (XRP) to facilitate their payments and settlements.

WHY IS RIPPLE (XRP) THE FUTURE OF BANKING AND FINANCIAL REGULATORY BODIES?

Banking and financial regulators have greater confidence in banks complying with banking and financial regulation guidelines for better services. Banks' increasingly adoption of Ripple (XRP) prove their commitment and confidence in using Ripple (XRP) as the best alternative to faster and cheaper secured option for transfers and payments settlements. Customers of the banks generally trust Banks than some unknown non-banking institution. This gives Ripple (XRP) greater hedge from other cryptocurrencies and promotes its acceptability by national and international financial regulators.

XRP is a cheap coin, so it has huge upside potential. If Ripple (XRP) achieves complete adoption by banks, it will definitely soar on value beating Bitcoin (BTC) and Etherum (ETH).

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Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive content

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