Bitcoin, Crypto currency, Blockchain

Ripple: hundreds of banks will use XRP in the year 2019

Ripple is a controversial project that already has a variety of partnerships with large banks. Ripple’s CEO, stated on the Money 20/20 Europe conference that by the year 2019, the number of banks, the use of the technologies of Ripple will increase significantly.

As we previously reported, Brad Garlinghouse, CEO of Ripple convinced that Ripple hits by a clear application to the needs of real companies and therefore faster and more widespread than, for example, Bitcoin.

Ripple currently has a number of Blockchain-based products, the use of centralized financial institutions, such as xCurrent and xRapid. Garlinghouse is convinced that xRapid will convince up to the year 2019, more and more banks by a real use-case to use this company’s software across the Board.

Ana Botin, member of the Board of management of the Santander group, announced last week, publicly, that Ripple (xCurrent) handles more than 50% of the Transfer to the Bank via the mobile App OnePay FX. In an Interview with CNBC on the Fintech conference, Money 20/20 Europe in Amsterdam, Garlinghouse said:

I have said publicly that I can trust until the end of this year to ensure that large banks xRapid as a liquidity instrument. You know, by the end of next year, I would certainly hope that we would see you in the order of … dozens.

Garlinghouse added that there are many ICOs and crypto-currencies, which have no specific application or a specific need to satisfy, and it will come to a natural Selection in the next time.

On the question of whether Ripple, Bitcoin and Ethereum can displace, he replied that he sees these two digital currencies as a competitor and there is therefore no competition.

Ripple is a value of paper?

As we previously reported, was filed less than a month ago, a class-action lawsuit against Ripple through the Investor Ryan Coffey. The court document States that Ripple is a value paper, and therefore, SEC-registered would have to be a whole series of conditions would have to meet.

How law.com reported on 04.06.2018, Mary Jo White, former Chairman of the SEC, the Ripple is represented in the court process. So Ripple has an experienced defender on his side who knows the market and the Situation of the Ripple. As we discussed earlier in this article, is a Ripple in contrast to many other crypto-currencies are not completely decentralized.

At the time of receipt of the claim letter, a spokesperson from Ripple said that the SEC has not yet decided whether Ripple is to be classified as a security or not. She also explained that Ripple is of the opinion that the complaints against XRP are completely baseless, both in court as well as in fact.

The outcome of these negotiations could have far-reaching consequences for other Altcoins in the crypto market. We are excited and will continue to pursue this process further.

The price of Ripple is available at the time of writing at € 0.57 per XRP and moves within the last 24 sideways with a minimal rate increase of 0.77 percent. With a market capitalization of knap 22.5 billion Euro Ripple currencies continues to be seen by 3 of the largest Crypto.

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