Coinbase Should Add XRP, Ripple CEO Believes

Brad Garlinghouse believes that XRP solves the scaling problems for financial institutions and large banks and this should interest Coinbase
25 June 2018   1014

The largest American cryptocurrency company Coinbase has everything to integrate XRP, the digital currency of the Ripple network. This was stated by Ripple Labs CEO Brad Garlinghouse at the CB Insights Future of Fintech conference.

According to the head of Ripple Labs, which controls the same payment platform worth $ 18 billion, XRP solves the scaling problems for financial institutions and large banks, and Coinbase should be interested in this digital currency.

Garlinghouse stressed that XRP exists independently of Ripple. This means that even if the company disappears, its currency will continue to exist as a cryptoactive. In addition, XRP tokens are used to conduct transactions between institutions and individuals as a utility currency, unlike shares and other traditional securities.

I don’t think that our ownership of XRP gives us control. Saudi Arabia owns a lot of oil—that doesn’t give them control of oil.
 

Brad Garlinghouse

CEO, Ripple

As CCN notes, the analogy with Saudi Arabia and its control over oil is related to the consensus XRP algorithm. Unlike protocols like EOS that use Proof of Ownership (PoS) and give tokens more control over the network, XRP uses its own algorithm.

SendFriend to Raise $1.7 from Ripple & Mastercard

SendFriend got into the business accelerator "Barclays powered by TechStars" in September 2018
13 February 2019   160

New York-based payment startup SendFriend, focused on the use of XRP tokens for international remittances, closed a $ 1.7 million financing round from Barclays and fintech, Ripple, CoinDesk reports.

Mastercard Foundation, MIT Media Lab, Techstars Incubator, Mahindra Finance, 2020 Ventures and 8 Decimal Capital also took part in the round.

Note that SendFriend got into the business accelerator "Barclays powered by TechStars" in September 2018.

According to the representatives of the startup, the funds raised will be used to expand the staff, work with the community and marketing.

Initially, a startup will focus on labor migrants from the Philippines who regularly make remittances to their homeland from the United States. Converting US dollars to XRP tokens, and then to the Philippine peso, according to SendFriend, took few seconds.

It is noteworthy that SendFriend commissions will be 65% below the average in the traditional cross-border transfer industry.