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5 more Banks will use Ripple

5 more Banks will use Ripple

January 9, 2019 6:01 am,

Ripple is now used by a total of 13 more financial institutions, and joined RippleNet, putting the total over 200. Of these, five of them will use XRP cryptocurrency for liquidity Institutions named are JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. While they use XRP to access liquidity on demand, the 8 others will not.

Significantly, most of the companies added will not be using XRP for liquidity. They will be using the settlement layer-XRP enterprise blockchain- and the network of other institutions for cross border payments. Notably, BBVA has arranged loans to Porsche and made massive international transfers using XRP’s technology stack.

XRPNet and xRapid are XRP’s core offerings to the financial world. XRPNet allows banks to work with other participants in the network in ways that vastly reduce costs, while xRapid enables liquidity instantly via XRP. The XRP price remains steadily around 37 cents over the 24-hour period. Still a long way from its all-time high of more than $3 per XRP, by all means Ripple continues developing its technology and business relationship in order to increase the cryptocurrencies network value. Interest in XRP is only growing, regardless of market metrics. Of course, one thing that depresses the price of XRP is the relative plenitude of its tokens. Banks and financial institutions are its target market.

As the whole cryptocurrency is waiting for the approval of a Bitcoin ETF by the US SEC, with hopes to drive up the institutional investors in the space. As the commission continues to prolong the approval of the exchange traded products, other countries have started to step up and look into the benefits of a Bitcoin ETF.

TRON in the recent turn of events, has surpassed Bitcoin SV and now sits comfortably as the ninth largest cryptocurrency with a market cap of $1.78 billion and prices reaching up to $0.026. The total trade volume for a 24-hour time frame is at $273 million which is coming from Singapore based exchange, Bit-Z via the trading pair TRX/BTC. This exchange contributes a whopping 70 million via the mentioned pair. Bit-Z also contributes a massive $20 million via TRX/ETH.

Tron reported to introduce a new BitTorrent token which is an integration of Tron and BitTorrent. BitTorrent token was introduced by the Tron Foundation and the BitTorrent team as an incentive mechanism for the BitTorrent community. Users will be incentivized with BTT for seeding files and resources on the BitTorrent platform.   

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