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.