After the Ripple has already signed more than 100 partnerships with companies and financial institutions, there is a new member of the today joined the Team RippleNet. LianLian International xCurrent perform take advantage of cheaper, faster and secure transactions to and from China.
Ripple has announced today, could be another company from China as a Partner. This is the China leading company LianLian International. LianLian is one of the largest Chinese service providers for mobile payments, which serve both the national as well as international payments. LianLian is licensed in Hong Kong and over 150 million registered users.
The company will use xCurrent to allow for rapid transaction processing across national borders, between China, the United States of America and Europe. However, it will not use the XRP Ripple Token, but the Ripple technology xCurrent.
XCurrent is a Software of the Ripple network, which enables banks and financial service providers, cross-border Transfers with a gap-free tracking, and great security. The cost will be up to 25% lower than traditional transactions between banks at the international level.
Emi Yoshikawa emphasises the huge opportunity and the China highlights is one of the largest markets in the world:
Cross-border payments related to China’s e-commerce market reached $1.07 trillion in 2017. There is a huge opportunity to make these payments quicker and more cost-efficient.
Furthermore, M. Yoshikawa, and that the inclusion of LianLian can facilitate other members of the Ripple network, the entry-level opportunities in the Chinese market is enormous.
The price of Ripple is increased according to the crypto-Crash the last days and weeks at a current value of 0.63 euros. The market capitalization is at the time of writing (16 hours) at 24.7 billion euros.
The influence of related partnerships on the Ripple rate in the past was very low or not at all visible. Nevertheless, it is, in our view, the Expansion of the Ripple network in the large Chinese market as very positive.
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