A partnership was established between Ripple (a blockchain firm) and creator of XRP cryptocurrency with the two higher education institutions in Japan for its University Blockchain Research Initiative (UBRI). Emi Yoshikawa, Senior Director at Ripple explained, “Japan is quickly becoming a leading force in crypto assets and blockchain. The region has always been forward thinking and exploring ways to improve the current financial system.”
The Ripple has revealed its sales for second quarter for 2019, that it has sold $251.51 million in XRP the breakdown is $106.87 million XRP in institutional direct sales and $144.64 million. Earlier ripple has revealed its escrow system, that it withdrew one billion from escrow each month over the quarter for a total of three billion XRP. Of the three billion, 2.1 billion were reportedly reinvested into escrow contracts.
One of the largest bank in the U.S, the Bank of America (BoA) has reportedly filed a patent for a settlement system citing the Ripple ledger (DLT). The patent filed will allow BoA to enable real-time settlement and transactions will be communicated through a shared, decentralized ledger and BoA was shared to have the most blockchain patents in the financial industry.
PayPal has revealed that it has built Xoom (a mobile payments app) with aim to compete with Ripple’s payment solutions. The application will be made available to and has already entered a partnership with more than a few major banks and other financial institutions. It is hoped that it will facilitate speedy and cheap cross-border payments to users all over the world.
The ripple based xRapid has made public that 20 financial institutions are employing the tech, particularly in on cross-border remittances. The global head of banking at Ripple, Marjan Delatinne explained, “xRapid went live last October, so it’s a very new product, but we have more than 20 financial institutions using it. So there is still a lot of education, but what is apparent with the regional banks and also the payment service providers is that they are hungry for change and for having a competitive edge.”
A payments firm based in South Korea, Coinone Transfer is in collaboration with SBI Ripple Asia for blockchain remittance. The CEO of Coinone Transfer, Wonhee Shin explained, “We hope that the cooperation between Coinone and SBI Ripple Asia will provide allow us to introduce a range of financial services that make use of blockchain technology.”
It has been confirmed that Ripple has partnered with MoneyGram International Inc. which leads the market to soar on Monday. The Chief Executive Officer of MoneyGram, Alex Holmes has explained, “As the payments industry evolves, we are focused on continuing to improve our platform and utilizing the best technology as part of our overall settlement process.”
A subsidiary of SBI Holdings Inc., SBI Ripple Asia (which Uses Ripple for payment solution) has announced that it has launched a MoneyTap affiliated store settlement service. MoneyTap, a payment application designed by SBI group in partnership with Ripple it uses RID’s Diversified Ledger Technology (DLT) xCurrent as an underlying technology in remitting funds between individuals from a bank account to another.
Ripple (XRP), the third biggest cryptographic money in the crypto market by market capitalization has been listed by the Taiwan based cryptoexchange BitoEX. In its official Twitter page: “New Trading Pair XRP trading pairs goes live today! BitoPro officially launches Ripple (XRP) spot trading for TWD/BTC/ETH/USDT by 12 PM (UTC+8) of 29th April 2019. We invite fellow traders to come place your orders”
Nasdaq (famous stock exchange) has announced that it will be supporting the XRP liquid index (XRPLX) to its Global Index Data Service (GIDS). Ripple in its statement: The XRPLX sources data from only the most liquid exchanges by volume and order-book depth…Current constituent exchanges for the XRPLX include Bitfinex, Bitstamp, Poloniex and Kraken with Coinbase to be added in the next review.”