Ripple Payments sees rapid growth

Ripple, in its annual conference, has shed light on how Ripple Payments can make an impact on every business that is struggling to make it through traditional finances. Ripple has stated that at least 80% of global finance leaders are willing to make a transition to modern payment solutions, provided they are secure and seamless and help mitigate the issues pertaining to the current times.

Ripple enters the market by ensuring that cross-border payments can be streamlined by implementing blockchain-powered solutions. Everything Ripple has is the result of decades of experience acquired through global operations, either directly or indirectly, from its team members.

Businesses leveraging or considering leveraging the capabilities of Ripple Payments are committed to having access to support functions throughout the year.

There are a total of four aspects that Ripple has highlighted by talking about the growth of Ripple Payments. To start with, Ripple has said that it now holds a money transmitter license, enabling it to perform operations in select US jurisdictions. This is on top of the jurisdictions where the Monetary Authority of Singapore has granted the platform permission to conduct its business.

A streamlined onboarding process by Ripple has made sure that there is only one onboarding point. This helps customers achieve 100 percent global payout coverage through the international payments network.

The announcement has not yet worked on the trading value of its native token, XRP. It definitely has an optimistic XRP forecast, but the current slip of 2.17% narrates a different story altogether. That has dropped XRP to $0.6772. Interestingly, this is an increase of 15.97% in the last 7 days—that is, one week. Estimates claim that the token could touch the mark of $0.90 by the end of this year and $5.49 by the end of this decade.

The remaining two aspects talk about expanded liquidity options, allowing customers of Ripple to access liquidity at their convenience throughout the year.

Customer onboarding has been streamlined into improving the product’s performance and new markets following a successful integration with the native DEX of XRP Ledger. One of the clients utilizing the functionalities of Ripple Payments is RocketFuel. In fact, this customer has been dubbed the first to be able to accommodate customers’ requests for direct payments.

Brendan Berry, the Head of Payment Products at Ripple, has underlined that the goal of the platform is to provide ease of use, optionality, compliance, and speed as elements of a comprehensive product.

Peter Jensen, the Chief Executive Officer of RocketFuel, appreciates Ripple Payments for supporting their products and enabling the venture to effectively serve its customers all over the world. Peter has acknowledged that the need to adopt Ripple Payments comes in response to the suffering from the usage of antiquated technologies, which have only increased cost and reduced efficiency.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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