(BlockBar) Marjan Delatinne, head of global banking at Ripplenet, announced that 14 new banks and financial institutions joined Ripplenet, which was publicized at the same day that $50 million was invested in Money Gram, the world’s second largest remittance service company. She also said that the number of completed transactions through the Ripple network in the first quarter of this year is more than that of the whole year of 2018.
Marjan Delatinne said: “It is always said that the block chain is the same as Bitcoin. But to be honest, what we see in the banks and financial institutions we work with is the decoupling of the effects of encrypted asset concepts and basic technologies. We have signed agreements with 14 banks and financial institutions in the past few weeks. But she did not reveal the names of the 14 new banks and financial institutions.
Ripple is the first block chain enterprise to enter the field of cross-border payment and remittance. According to the information provided by the official website of Ripplenet, the services of Ripple now cover 27 countries around the world. Banks joining Ripplenet can track and process real-time cross-border payments. With the help of Ripple, banks can also expand their payment business to other markets which are expensive and difficult to reach in traditional ways, such as less developed countries and regions.
Marjan Delatinne observes that the future of block chain technology focuses on liquidity and development in smaller countries where liquidity is more difficult. She said “Liquidity management is actually the cost of banks because some of the oldest markets in the world are now turning to real-time markets, of course, this is only for the small amount notes. But once system and process adapt to this, you can transfer to the large amount. When this happens, I think there will be a new technology enabling to achieve that. Liquidity management experts are now aware of the benefits this new technology can bring to them. After all, payment begins with liquidity and ends with liquidity.” After announcing the details of the investment of MoneyGram, XRP rose to $0.46 around 5:00 a.m on June 18.
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