Ripple's Ready to Invest in Startups, That Use XRP

This is said by the CEO of Ripple at Money2020 in Singapore
13 March 2018   1480

Ripple is planning to invest in projects, the organizers of which would like to use the XRP cryptocurrency in their products. This is reported by TechCrunch with reference to the statement of CEO Ripple Bred Garlinghouse.

According to him, Ripple continues to concentrate its efforts on the development of products for the banking industry, but this does not prevent it in passing to seek alternative uses for its crypto currency.

We, Ripple, will stay focused on solving that institutional use case, but we would certainly partner with companies that are looking to use XRP in lots of different ways.

Bred Garlinghouse

CEO, Ripple

As he said, the American start-up Omni perfectly fits into this plan. In January, Ripple and two of its executives invested $ 25 million in Omni, when the startup agreed to use XRP in its products.

The small popularity of XRP as a payment instrument with Ripple's close interaction with the traditional financial system has long been a source of discontent for critics. The assumption that payment services are in no hurry to integrate XRP because of the volatility of the crypto currency, Garlinghouse called "fake news".

He drew attention to the fact that the translation using XRP takes a few seconds - the probability of a sharp jump in the rate during this time is minimal. Nevertheless, the question of why banks use Ripple blockchain, but do not use XRP, remains open. Garlinghouse is confident that eventually everything will be set in order.

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   303

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.