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   2428

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.

DeeMoney to Join RippleNet

RippleNet consists over 300 companies around the world, that can perform almost instant exchanges thanks to this network
19 March 2020   156

Thai fintech company DeeMoney became the first non-state company in the country to use RippleNet technology for fast international payments.

More than 300 financial institutions around the world are already members of the RippleNet payment network. The exchange of payments between these organizations occurs almost instantly.

Ripple is currently at the forefront of technology and compliance regulations[…]This brings in finance in Thailand by bringing a new level of efficiency and accessibility for cross-border transactions to and from the nation.

 

Aswin Phlaphongphanich

CEO, DeeMoney

According to Marcus Treacher, senior vice president of customer service at Ripple, there is a real revolution in Thailand's banking industry.

By being the first non-bank institution in Thailand to use RippleNet, it redraws the boundaries and rules of engagement by providing efficient international transfers at low fees and competitive rates. 

 

Marcus Treacher

SVP of Customer Success, Ripple

Currently, DeeMoney is already accepting payments in Thailand using RippleNet, and when the second phase of cooperation is launched, the company will be able to send funds abroad using the blockchain system.