Everyone is watching Ripple Labs as their FinTech juggernaut surges forward towards widespread adoption. Announcements are coming at a furious pace, with more financial institutions signing on each week.
The lure of low cost, near-instant transactions across borders and between banks seems too good to pass up. The Ripple payment protocol has been big news since their surge in price at the end of last year.
Their stated goal of revolutionizing the financial industry’s network technology has been realized faster than any other cryptocurrency’s end game. Their integration of the XRP token has given them an edge over other international payment systems. Blockchain technology allows for rapid verification of transactions in an automated environment.
That alone reduces the fees associated with foreign exchange transfers. The further use of XRP as a bridge currency facilitates remittances that would normally require fairly exotic trading pairs.
Users no longer have worry about finding a buyer for their currency. It is traded instantly for XRP, and the network stores the fiat for future liquidity. Read more from globalcoinreport.com…
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