Ripple Inc. looks toward being one of the top for profit corporations in the next few year as it continues to make partnerships with big banks across the globe. Ripple’s xRapid and xCurrent features have been adopted by over 100 banks in the world with more financial institutions finding leverage with the technology. Fast transactions and low fees on these transactions drives up demand for these systems with early mover advantage at stake. German banks have been in the search for Ripple technologies adoption with blockchain already set root in the country. Cryptocurrencies such as Litecoin (LTC) and TokenPay (TPAY) have partnered with WEG Bank AG to offer the first cryptocurrency debit cards in the country.
An interview Marjan Delatinne the Head of Banking in Ripple said the company was in talks with many of the German banks while in Berlin. This came as a response to a question regarding the overall presence of partnerships around the world from Japan, US, and other parts of Europe and lack of the presence in Germany. “We actually are in talks with many of [German] banks too.”
Marjan is a former business director at SWIFT moved to Ripple Inc. in 2017 bringing a lot of promise to the blockchain driven company.
The only known German bank in partnership with Ripple is Riesebank, owned by DZ Bank AG, the third largest bank in Germany by asset size. The bank has over 100 branches across Germany and is the central institution for more than 1,000 co-operative banks and their 12,000 branch offices. The possibility of other banks joining the adoption of Ripple Labs technologies gives enthusiasts hope to see blockchain driven economies.
Weiss Ratings rank Ripple Inc.’s XRP as the best transaction cryptocurrency
A poll carried out by Weiss Ratings firm on Twitter showed XRP to be the fastest digital asset to be transacted across exchanges. The poll which also included Bitcoin and Ethereum was highly dominated by Ripple’s XRP with 78% of the 7598 voters selecting the digital asset. The slow nature of confirmation of transactions on Bitcoin and Ethereum is crippling the adoption process of cryptocurrencies. Ripple’s XRP in contrast take a couple of seconds to send from one exchange to another as there is no need to confirm transactions.
However, the partnership in Germany and the rating by Weiss did not really impact the price of XRP with the market suffering to lows last seen in late November last year. The largest holder of XRP will be hoping for a quick reversal in price of the digital asset as it continues to build an external network.
XRP trades at $0.309144 USD, representing a 3.76% gain in the last 24 hours. The cryptocurrency still holds the third position according to market capitalization with a total market cap of $12,149,336,311 USD. This represents a 5.6% dominance in the market.