#XRP powered-#xRapid and #Ripple to get push for adoption through upcoming SWIFT GPI upgrade and Temenos?

November 6, 2018

 

Opinion: The aftermath of the launch of xRapid, Ripple’s technology to utilize XRP for cross-border payments, has left many retail investors dissatisfied. This is due to the effect that the launch has had on the price, which seems to have continued regular market movement. However, the launch of the product creates an opportunity for the coin to reach the usability that many of the XRP community have been hoping for. One of the important players for the adoption of xRapid among banks is not only financial institutions utilizing xCurrent, but also a company known as Temenos. Temenos is a company that offers back-end software solutions for banks and works with over 3000 companies worldwide. More interestingly, 41 out of the top 50 banks in the world are its clients, which include the likes of JPMorgan, Banco Capital, and the Bank of Shanghai. The company also has a partnership with Ripple, providing a valuable inroad into the existing financial system without needing to “get their hands dirty”, so to speak. This will also hasten the development of RippleNet, allowing it to reach critical mass sooner. Temenos’ latest banking solution known as T24 Core utilizes ledger-agnostic technology developed by Ripple, and they have fully integrated it into T24 by utilizing a feature known as Bluzelle Altitude Gateway. They also utilize an API known as IRIS, which allows customers to process an outbound cross-border payment through their backend, get the best forex rate, issue payments through the Altitude Gateway, and settle and reconcile payments sent through RippleNet. As Temenos provides a solution for the backend of banks, they will also make it easier for an institution or bank to switch if they want to, as they are already partnered with Ripple. This will allow for a fast and cost-efficient integration with xRapid, further quickening the pace with which xRapid will be adopted.

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About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.

 

XRP is the 3rd largest cryptocurrency by market cap size. Its market cap is currently $19,497,680,634 and it has a circulating supply of 40,205,513,967 XRP. It's up 4.29% over the past 24 hours and is currently trading at $0.484950. 

 

Ripple’s (XRP) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as CEX.io and Changelly.com  and it can be bought with cryptocurrency on exchanges such as CoinExBinance, and HitBTC.

 

Click here to buy and sell Ripple at up to 50x leverage

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