Ripple’s XRP to Surpass Bitcoin by Market Cap, Believes SBI Holdings President

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Ripple’s XRP to Surpass Bitcoin by Market Cap, Believes SBI Holdings President

The head of Japanese SBI Holdings strongly believes that thanks to its use cases XRP will surpass Bitcoin in the nearest future.

Ripple’s XRP to Surpass Bitcoin by Market Cap, Believes SBI Holdings President

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Source: CoinSpeaker

Ripple: Oman’s Second Largest Bank Extending RippleNet on Mobile App, Successfully Tested to India

While Ripple continued its partnership with international fintech players and crypto trading platforms, Omanian based BankDhofar has extending RippleNet support to its Mobile App as well. It’s quite important to note that BankDhofar is already a RippleNet customer since April 30, 2018.
Instant Cross Border Mobile Banking Transfer
BankDhofar is the second largest bank of Oman in terms of market value. The bank on February 17, 2019, took to Twitter stating that they hit ‘international Instant Transfer service via its mobile App’.

We are Proud to be The #First Bank in The Sultanate and one of the first in the region to Provide International Instant Transfer through #BakDhofar_Mobile_Banking_Services App pic.twitter.com/4tJatbLH4y
— BankDhofar (@BankDhofar) February 14, 2019

The news gets quick attention from the vast audience of Twitter, especially XRP enthusiasts. The announcement claims that BankDhofar is the first bank in the region to provide ‘international instant transfer through Mobile Banking. Moreover, it has also revealed that they have successfully tested ‘international transactions’ to India in less than 2 minutes. RippleNet is a product of Ripple Blockchain firm which helps bank process cross-border transaction within seconds meantime at less cost. Per the official Ripple’s announcement in early Jan this year, RippleNet surpassed 200 customers.
“Customers will be able to transfer money abroad instantly using BankDhofar Mobile banking App. Ripple’s leading Blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables BankDhofar to save customer’s time when sending payments overseas, using BankDhofar Mobile banking App”.
Additionally, BankDhofar is proudly the prime banking Sultanate to adopt RippleNet technology. Besides the bank, Navin Gupta, the managing director of ripple for South Asia and MENA also confirmed ‘non-resident Indians (NRIs) in Oman can avail the mobile service of BnakDhofar for money transfer in real-time.

Congratulations! to Bank Dhofar – Live on Ripplenet. Now Non Resident Indians (NRI's) living in Oman can App money back home in real-time. #bankdhofar #ripplenet @Ripple pic.twitter.com/HBbSGh6tQD
— Navin Gupta (@navinblockchain) February 17, 2019

What do you think of RippleNet service via Mobile Banking? Share your opinion with us.
The post Ripple: Oman’s Second Largest Bank Extending RippleNet on Mobile App, Successfully Tested to India appeared first on Coingape.
Source: CoinGape

Ripple’s payment technology will not be used by UAE but will encourage and educate commercial banks to use it

Mohsen AlZahrani, VP Strategy & Excellence at SAUDI PAYMENTS mentioned that two banks in the UAE will go live using Ripple’s payment solutions. He also confirmed that central banks will not use Ripple’s technology but they, however, will make sure to encourage and educate the commercial about Ripple’s technology.
UAE has been very active when it comes to adopting new and emerging technologies, be it Elon Musk’s brainchild, Hyperloop or blockchain technologies. Mohsen AlZahrani said:
“We are looking into cross-border payments… In the project, we worked with Ripple, we don’t, as a central bank implement any technology [Ripple’s technology]. It’s banks, commercial banks that are implementing the technology. However, choose to start this project, as an approach we used in SAMA called, “Central Bank Led Innovation”, that is how we started innovative initiatives to encourage the banks to use innovative technologies.”
He continued saying that they will always help and encourage the commercial banks to use blockchain and Ripple technologies. He went on to say that they chose Ripple for this project due to Ripple’s focussed use-case. AlZahrani said that considering the massive amounts remittance that goes through UAE, Ripple’s focus on cross-border payments spoke to them.
Furthermore, AlZahrani added that SAMA was leading this project which helped with the training for other banks. He said that the banks were educated, especially on Ripple’s technologies.
Moreover, AlZahrani confirmed that one bank had gone live using Ripple’s xCurrent and that another bank was ready to go live and that it would be announced soon. He also confirmed that two more banks would go live in the first quarter of 2019.
In addition to the above, it was announced recently that Finablr – a UAE-based payment and foreign exchange, went live with Ripple’s technology in partnership with Siam Commercial bank in Thailand. This will help facilitate cross-border payments with the above-mentioned countries.
xCurrent is Ripple’s technology that is rivaling SWIFT and its new invention GPI [Global Payment Innovation]. xCurrent makes use of RippleNet and ILP ledger to merge two different ledgers in two different countries to facilitate a transaction on the blockchain, This transaction method is faster and cheaper and less prone to mistakes than the traditional methods.
A Twitter user @debruyne_n commented:
“So much fomo on ripple, it’s obvious they want control. Look at the major coin holders. It’s crazy people still fall for all this fomonews. I avoid ripple cause it goes against what crypto stands for and it’s not disruptive. I want to be my own middleman”
The post Ripple’s payment technology will not be used by UAE but will encourage and educate commercial banks to use it appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Further Expands Its Partner Network Adding Major UAE Payments Company Finablr

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Ripple Further Expands Its Partner Network Adding Major UAE Payments Company Finablr

Putting aside SWIFT’s rough criticism over the next generation banking payment system, RippleNet, the company behind the legendary remittance technology steadily expands its partnership network teaming with innovative fintech upstarts.

Ripple Further Expands Its Partner Network Adding Major UAE Payments Company Finablr

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Source: CoinSpeaker

Ethereum Continues to Climb, Flips XRP For Second Place

There have been a number of clear victors over the weekend as crypto markets pumped by $10 billion. Litecoin has been the obvious one with a surge of almost 40% since Friday but Ethereum has also make a strong enough comeback to retake second spot from XRP.
Ethereum Back in Second Place
Ethereum has been battered and bruised in recent weeks hitting a new 2019 low Wednesday last week of $103. The $100 level is a key support zone both technically and psychologically and a fall below this would spell a tough recovery period for Ethereum.
During the recent crypto market pump late Friday Ethereum surged over 14% from $105 to $120 by Saturday. This alone has not been enough for it to usurp XRP which also climbed during the rally. However over the past 24 hours Ethereum has continued climbing to reach an intraday and weekly high of $125. ETH has since pulled back a little and is currently trading at $121, but still up 1.5% on the day at the time of writing.

Daily volume is up from $2.7 to $3.2 billion and this has been enough to push Ethereum’s market capitalization above XRP according to Coinmarketcap.com. At the time of writing ETH market cap was $12.7 billion and it was in second place. Ripple’s token conversely only managed to make 8% during the weekend rally taking it to a weekly high of $0.315.
Since the Saturday high XRP has slid back to $0.305 marking a 1.5% decline on the day. Market cap has shrunk to $12.5 billion as it drops back behind Ethereum and into third spot again. The two are very close and a re-flippening could easily occur if Ethereum weakens more than XRP over the coming week.
The lack of momentum for XRP is perplexing since new partners are continually being onboarded into RippleNet. At the end of last month Japan’s SBI financial group released a report recognizing Ripple’s importance for cross border transactions. The SWIFT and R3 partnership announced last month could also been good news for Ripple but none of this has been reflected in XRP price.
Ethereum has been further weakened by the Constantinople hard fork delay but a rescheduling to late February could spell more bullish momentum for ETH. The new fork which will address previously discovered security flaws will take place at block 7,280,000 or around February 27.
At the moment though Ethereum is back as the world’s second largest crypto asset.
Image from Shutterstock
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This is How XRP Could Surge by 2000% and Hit $692 in 2019

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This is How XRP Could Surge by 2000% and Hit $692 in 2019

TheIndependentRepublic.com suggests that one day, XRP may surge by 2,000 percent and reach $692.30 per coin. However, this kind of crazy theory is possible in only one case. Which one? Find out below.

This is How XRP Could Surge by 2000% and Hit $692 in 2019

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Source: CoinSpeaker

Ripple to Offer a “New Standard” for Remittances in Brazil & Entertainment Industry

Ramessa Online has announced a partnership with Ripple which is currently live on xCurrent and will be expanding to XRP in the near future. Meanwhile, Ripple and XRP have entered the music industry via Xpring.
Ramessa Online Live on xCurrent, Plans to Expand to XRP in Near Future
Ripple has added another partner to its list in the form of Sao Paulo-based company Ramessa Online. Founded in 2016, the company is currently live on xCurrent but will expand to XRP in future as it stated,
“We are live on xCurrent, but we do plan to expand to XRP some time in the near future.”

Ramessa Online is already using RippleNet and waiting for XRP to be regulated as the company “need to be compliant with legislation.”
According to Money Times, Remessa Online which is created by BeeTech, another partner of Ripple for cross border transfers joined online credit platform Creditas.
Targeting the Entertainment Industry
In another event, Ripple has now moved on to the music industry. Former BMG president, Zach Katz’s investment group Raised in Space Enterprises has announced a partnership with Scooter Braun’s Ithaca Holdings and Ripple’s Xpring.
Ethan Beard who is leading Xpring at Ripple shared,

Raised in Space will fund entrepreneurs with tech solutions in music space and will leverage Ripple’s Xpring to integrate “blockchain and the digital asset XRP when applicable,” reported Billboard.
Braun who has managed Ariana Grande and Justin Bieber and is also known for his investments in startups said,
“The relationship between music and tech has massive untapped potential.  I’m excited to launch a company focused on bridging these two industries in a transformative and actionable manner that raises the value of music.”
Talking about the investment aspect, Katz stated, “We plan to make six-to-10 very well thought-out investments per year in the range of $500,000 to $5 million and we are completely prepared financially to do that for the next five years or more.”
This has certainly got the XRP community excited as one enthusiast commented,
“Scooter Braun is a proven investor and manager. Also, Ethan Beard is a proven business & app developer. If they think XRP is going to have major potential, you better listen and watch out to these mastermind of the game!”
While another one stated, “Wow! XRP is taking over the entertainment industry!!”
The post Ripple to Offer a “New Standard” for Remittances in Brazil & Entertainment Industry appeared first on Coingape.
Source: CoinGape

Ripple’s CEO Brad Garlinghouse Hints at Their Readiness to Disrupt Gaming

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Ripple’s CEO Brad Garlinghouse Hints at Their Readiness to Disrupt Gaming

Being known as a company developing payment solutions, Ripple may soon enter the gaming industry, as its CEO mentioned games build on the XRP Ledger.

Ripple’s CEO Brad Garlinghouse Hints at Their Readiness to Disrupt Gaming

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Source: CoinSpeaker

Ripple Rolls Out Incentive Program to Increase XRP Adoption

San Francisco based Ripple has been quietly working away with a focus on expanding its network of partners and increasing the usage and adoption of its native token, XRP. The latest initiative is a RippleNet accelerator program that offers financial incentives to institutions that help promote the Ripple payments system.
The fintech firm has taken $300 million in XRP from its own holdings to fund the accelerator program. According to the company blog the program consists of a ‘Volume Rebate and an Adoption Marketing Incentive’.
The volume rebate is an incentive that offers XRP rebates to RippleNet members which have reached certain milestones in terms of processed transaction volume. The announcement goes on to add that the reimbursements can cover anywhere between 50 to 300 percent of the integration fees and first year’s license fees. It can be taken in XRP or USD but resale of tokens will be restricted to ‘support healthy XRP markets’.
The second part of the initiative is an adoption market incentive which rewards members that promote Ripple services to other companies. RippleNet members will be given marketing tools and materials to help expand the ecosystem. Vice president of marketing at Ripple, Monica Long, likened the initiative to the early days of PayPal;
“We’re borrowing a page from the likes of PayPal (with their early days adoption and referral bonuses), implementing incentives to accelerate network effects on RippleNet. Since we’re offering the incentives in XRP, we anticipate seeing an added benefit of building an easy on-ramp for institutions to use XRP in their payment flows to lower liquidity cost in the future. Early reception of these XRP incentives in a test phase has been very positive.”
$535 Million XRP Sold in 2018, Market Cap Claim Questioned
According to a separate report, Ripple sold $535.5 million XRP in 2018 with $129 million in Q4. Breaking that down the report added that $40 million was sold to institutional investors in Q4 while $89 million was sold via third parties such as crypto exchanges. The institutional portion was less than half of the volume sold for the same quarter the previous year.
Recently an analytics firm questioned Ripple’s market capitalization claim alleging that it could be inflated. The firm claims that Ripple market cap could be over by $6 billion which would effectively half the current stated figure of $12.5 billion according to Coinmarketcap. At the time of writing XRP was trading down 4% on the day at $0.30.
Image from Shutterstock
 
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Ripple Enters One of Largest Remittances Market, Saudi British Bank (SABB) Joins Ripplenet to Offer Instant Payment

Ripple’s push to become a global value transfer solution has recorded a significant boost with news that the Saudi British Bank (SABB) has joined the Ripplenet under an ongoing Saudi central bank pilot program. The program which began in 2018 aims to examine the feasibility of blockchain technology as a reliable solution for cross-border payments and remittances.
Based in Riyadh, SABB is a prominent Saudi bank with a significant minority shareholding owned by HSBC Holdings PLC. Though the bank itself is yet to issue an official statement confirming the partnership with Ripple, a statement credited to Ghada Al Jarbou, SABB Head of Global Liquidity and Cash Management on January 22 appears to confirm that the Ripplenet integration went live at the end of December 2018.
Behind the scenes, Hints From SABB and Ripple
It will be recalled that on October 23, Ripple’s South Asia and MENA Managing Director Navin Gupta posted a tweet alluding to a payments technology collaboration between Ripple and SABB, though no further information was forthcoming for some time.

Great to host the SABB team and building the future of payments together with them. @Sibos @Fintech @Ripple #ripple @marcus_treacher @sabb pic.twitter.com/1Vmc05MqJa
— Navin Gupta (@navinblockchain) October 23, 2018

Earlier this month, however, an unknown Twitter user “@BankXRP” posted a screenshot of a quietly-released report published by SABB’s minority shareholder HSBC published on January 22. The report, titled “Blazing a transformation trail: Saudi Arabia’s new digital frontier” explicitly named SABB as one of three Saudi banks tapped by the country’s central bank to test Ripplenet integration for the purpose of trialling a blockchain-based cross-border settlements solution.
The report also named Al-Jarbou as the source for this information, adding that the integration went live at the end of December and is currently ongoing. It further named the other two banks involved in the Saudi Ripplenet trial as the National Commercial Bank of Saudi Arabia (NCB) and Al Rajhi Bank (ARB).
It will be recalled that in February 2018, Coingape reported that Ripple went into a partnership with the Saudi Arabian Monetary Authority (SAMA) to enable Saudi banks explore blockchain-based cross-border payments and potentially save up to $400 million in the process when compared to current transfer methods.
While the partnership expressly ruled out the prospect of hasty or immediate nationwide adoption of Ripple or other blockchain technology solutions pending the completion of an observation period, Saudi banks are understood to be bullish on the potential outcome of the project. They stand to save an estimated 50 percent of their current remittance costs, which in addition to boosting their profitability is also expected to improve their customer numbers and transaction volumes.
For now, though, Saudi Arabia remains generally cautious on cryptocurrency, and crypto trading is considered illegal in the country.
The post Ripple Enters One of Largest Remittances Market, Saudi British Bank (SABB) Joins Ripplenet to Offer Instant Payment appeared first on Coingape.
Source: CoinGape

XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations

Ripple is working hard on spreading its products worldwide with a strong number game as the XRP, xRapid, RippleNet, and xCurrent gradually gains more customers, real-world usage, and support from the community.
XRP’s Strong Number Game
Recently Ripple’s client Mercury Fx took to Twitter to share how it made one of its largest payment on RippleNet by using XRP while saving money in the process. This showed the real-world usage and effect of XRP.
Ripple is already working hard and fast in pushing to make its various products part of real-world banking operations. Previously, it has been claimed in 2018 that Ripple already has 100 clients in its bag and earlier in January, this year itself, Ripple shared further insight declaring RipleNet has surpassed 200 customers all over the globe.
The latest additions in this network have been Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, and Rendimento.
Ripple’s clients have all the praises for its different products that allow them to settle transactions fast and in a cost-effective manner as David Lighton, the Founder of SendFriend, which was founded at MIT, said,
“Through our partnership, we are bringing our customers a next-generation, blockchain payment solution that leverages XRP to address many of the efficiency and equity problems with existing remittances.”
XRP fever is certainly spreading as platforms like r3, XRP Tip Bot, Arrington Capital, Omni, Nexo, Coil, XRParrot, and Travala among many others are utilizing this digital asset as a form of payment.
The plan is rather simple here to provide a better cross-border payment solution in terms of speed, cost, and transparency that the current established banking system lacks.
Just recently, Ripple sales director Ross D’Arcy said they want to make sending payments as easy as sending an email,
“3 clicks, 30 seconds, receive a confirmation that the end beneficiary has been paid. So as easy as we can do a voice chat or exchange emails, that’s exactly how we want the payment experience to be.”
D’Arcy further shared how this technology is a better solution than Swift,
“Ripple could shut down as a business tomorrow, and our customers could still transact using our software. The same wouldn’t be the case with Swift.”
If we talk about the number a bit more, according to the XRP community blog, XRP has about 1.5 million active wallets, more than 230 exchanges where the 2nd largest cryptocurrency has been listed and a strong community which is made up of over 1 million people.
“XRP has one of the largest and most coordinated group of developers of all cryptocurrencies in Ripple Labs,” said Ben Ritchie of Digital Capital Management while predicting XRP price at $0.75 by December 31, 2019.
On the front price, XRP is currently down about 90 percent from its all-time high. At the time of writing, it has been trading at $0.330 with 24-hours gains of 0.31 percent.
The post XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations appeared first on Coingape.
Source: CoinGape

Mercury FX Makes Its Largest Payment Across RippleNet

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Mercury FX Makes Its Largest Payment Across RippleNet

Ripple is breaking all sorts of traditional financial trends. In recent news, Mercury FX has made their most substantial payment from the UK to Mexico using XRP. The amount was valued at £3,521.67 which in US dollar terms is equal to around $4552.

Mercury FX Makes Its Largest Payment Across RippleNet

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Source: CoinSpeaker

Euro Exim Becomes the First Official Bank to Fully Integrate Ripple’s xRapid

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Euro Exim Becomes the First Official Bank to Fully Integrate Ripple’s xRapid

London-based Euro Exim Bank will become the first financial institution to fully integrate the XRP-powered xRapid in the first quarter of this year.

Euro Exim Becomes the First Official Bank to Fully Integrate Ripple’s xRapid

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Source: CoinSpeaker

Ripple Partners with National Bank of Kuwait Closing Out the Year

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Ripple Partners with National Bank of Kuwait Closing Out the Year

National Bank of Kuwait has joined Ripple’s blockchain-based payments network seeking faster cross-border money transfers. The bank announced the launched of the new remittance service, that enables “immediate” payments using Ripple tech.

Ripple Partners with National Bank of Kuwait Closing Out the Year

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Source: CoinSpeaker

Ripple Targets Middle East Financial Institutions, Adds New Partners on Ripple Net

Ripple has successfully partnered with institutions around the world and its recent focus seems to be on Middle Eastern Institutions. As per reports Ripple has partnered with institutions in various countries in the Gulf region to its Ripple Net network.
Ripple finds partners in Kuwait after Dubai and Bahrain
Ripple has been strategically capturing the Middle Eastern Market country after country and has grabbed some big partners. The recent addition to this list is National Bank of Kuwait which announced that it would be using RippleNet for its Direct Remit facility.


This service allows users to digitally and securely transfer to beneficiaries 24/7, for just KD 1 per transaction. The service is currently available only for transferring money to Jordan and the bank plans to soon and add services to more countries.
National Bank of Kuwait is not the only partner of Ripple in the Middle Eastern Region.  There has been clear interest in Ripple’s technology shown by the financial institutions in the region, as Saudi Arabia’s largest Islamic bank Al-Rajhi and Kuwait Finance House are already members of RippleNet.
Why Ripple is focussing on Middle Eastern Regions?
Ripple’s global head of infrastructure innovation Dilip Rao was quoted speaking at a conference in Dubai where he briefed about hows Ripple’s technology could greatly help in the Middle Eastern region which is currently full of migrant workers that often transfer smaller amounts of money over the order. He was quoted saying,
“If you want to send this money, particularly you’re not clear about what the fees are going to be that the bank is going to charge on the other end. And therefore, what you’ll receive might be substantially less than what you sent out. And if you’re sending money for blue collar workers, this often can be a small amount of money, $200, and the fees for these kinds of small payments can be as high as 5 to 10%. So, this is actually hurting the people who can afford it the least.”
With regards to interest in the Middle East, Rao mentioned,
“We have to date signed up close to 200 financial institutions around the world, many of them from this part of the world… We now have three banks in Saudi Arabia, two in Kuwait, one in Bahrain, one in Oman, a couple in the UAE here. And it really is our fastest growing marketplace.”
Ripple seems to be overhauling the Middle East and the speed at which Ripple is moving it looks like in no time the whole of Middle East would be on Ripple’s network.
Will Ripple be able to grow at this pace in 2019 as well? Do let us know your views on the same.
The post Ripple Targets Middle East Financial Institutions, Adds New Partners on Ripple Net appeared first on Coingape.
Source: CoinGape