Bitcoin, Crypto currency, Blockchain

Ripple will cooperate with the largest Israeli financial company

8c8db21d7e4787612f037efb38fe7261 - Ripple will cooperate with the largest Israeli financial company

Ripple will cooperate with the largest Israeli financial company

Home News Ripple with the largest Israeli financial company to cooperate

Of
Marcel Knobloch –
15.12.2018

The RippleNet, now consisting of more than 120 members, will get new growth. GMT in the Software of Ripple great opportunities to optimize the company’s own processes and to save on the international transfer market.

GMT is a financial services company from Israel, and is considered the largest Institution in the country in this sector. The company specifies to the Software Suite of the start-up Ripple can be used to optimize cross-border payments. GMT is hoping for higher speeds (throughput rates), and significant cost savings. GMT is happy to be working with an emerging company like Ripple to cooperate (freely translated):

GMT includes companies such as MoneyGram, American Express, CIBC, earth port, AKBANK, and many others, are already entitled to use the platform of Ripple. This partnership established the Position of the GMT at the top of the Israeli Fintech industry and allows us to side-by-side with some of the leading companies in the world to work together.

Ripple selects its partners are aware of, so that, after a lengthy selection process all the necessary requirements of both sides have been fulfilled (freely translated):

After a long and precise process, GMT was selected as a representative of Ripple in Israel by Ripple and his partners in the creation of a global financial system with High End technology, and values such as transparency and affordable cost.

No mention is made, for the time being, whether the GMT will use xCurrent, xRapid or the native tokens, XRP. GMT want to compete through this partnership, the wide-spread most Bank transfer system SWIFT, that ’still‘ by many banks and financial networks in the world. SWIFT has already been criticized by many experts in the industry and as no longer ‘contemporary’ and ‘outdated’.

Ripple’s network is growing in order to a further emphasis that the benefits and opportunities of the Blockchain has recognized technology and within the company.

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The current market development shows, unfortunately, counter to the current trend of development and adaptation in the industry.

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