Ripple Partners With Israel’s Largest Financial Services Firm GMT. AkBAnk Successfully Starts Using It

December 16, 2018

 

Ripple’s expansion remains unstoppable and has now the company behind XRP managed to conquer Israeli territory after closing a significant deal with GMT in an effort to boost the financial industry in the region and consolidate Ripple’s domination of the market.

According to a public announcement published by GMT, both companies share similar business philosophies, something that helped them reach beneficial terms after a prior discussion process:

“After a long and precise process GMT was chosen to be Ripple’s representative in Israel, by so joining Ripple, and its partners, in creating a global financial system, with high-end technology and values such as; transparency and affordable costs.

The GMT team was quite pleased, stating that the use of Ripple technology is an innovation that turns it into a reference to be followed by the different fintechs that operate in the region. “GMT is joining companies like MoneyGram, AmericanExpress, CIBC, Earthport, AKBANK and many more, who are already authorized to use Ripple’s platform.This partnership is establishing GMT’s place in the forefront of the Israeli Fintech industry, also allowing us to work side by side with some of the leading companies in the world.”At the moment it is not known whether GMT will use xCurrent, xRapid or the native XRP token. Through this partnership, GMT wants to compete with SWIFT, a system that despite being used by most banks and payment processors worldwide, has recently been attacked by many industry experts for being “outdated” and “obsolete.”

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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.

 

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 CoinEx, Binance, and HitBTC.

 

XRP is the 2nd largest cryptocurrency by market cap size. Its market cap is currently $11,932,938,903and it has a circulating supply of 40,926,963,305 XRP. It's up 1.66% over the past 24 hours and is currently trading at $0.291567

 

 

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