BKCM CEO: Ripple Crypto Community is Missing Out

Brian Kelly, BKCM CEO reported how he believes that investors are missing out on the cryptocurrency Ripple and its potential
04 June 2018   948

This cryptocurrency is known to be created in order to become a real-time calculation system, remittance network, as well as a currency exchange. The system brings profits to the banks and major payments industries - using the system could help banks to save up to 60 percent on remittances made across the globe. In the interview with  CNBC, the CEO of the investment company declared that the internal payments market’s size amounts to $155 tln. That might mean that to move the massive market, it would demand for $31 bln.

One major merit of utilizing the cryptocurrency is that it assists in saving reconciliation of Nostro accounts, that are foreign currency-dominated accounts safe kept by a bank in a separate country. The practice incurs costs just by merely maintaining these accounts. And, as Kelly expounded, banks can do away with the costs with the help of Ripple ledger and XRP tokens vice of keeping foreign currency in accounts overseas.

XRP prices unfortunately accupied a substantial fall since the start of 2018, unlike some other cryptocurrencies which got significant growth especially this week. Against the lack of the appreciation that it seemingly deserves, Kelly induces the crypto community to utilize both the tokens and the ledger framework so that the token will up in price.

RippleNet Now Has Over 200 Participants

According to Brad Garlinghouse, during 2018, RippleNet was replenished with 100 financial institutions
09 January 2019   225

RippleNet was joined by 13 more financial institutions. Now network has more than 200 participants.

New partners of RippleNet are Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual / USEND and Rendimento.

JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank involve the XRP token in their operations. Ripple is confident that this digital asset is great for cross-border payments, as it increases their speed and reduces costs.

According to Ripple CEO Brad Garlinghaus, during 2018, RippleNet was replenished with 100 financial institutions.