Crypto and blockchain company, Ripple has announced that the total number of registered global customers on RippleNet has risen to 200, thanks to the 13 new financial institutions who registered for their services recently. entrants.via its website that 13 new entrants.
Information available on it’s website, says RippleNet currently operates in 40 countries across 6 continents, with the most recent being from England, Kuwait and Sweden.
The new financial institutions includes: Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, Rendimento
The blog post further added that, five of the new additions — JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank — will use Ripple’s digital asset, XRP, for liquidity when sending customer cross-border payments. Other institutions new to RippleNet, like the named CIMB or Olympia Trust Company, will use Ripple technology for immediate settlement and more transparency payments.
Ripple CEO, Brad Garlinghouse’s it would be recalled said in June 2018, that over a dozen banks will be using XRP by 2019. Eight of them have been confirmed so far. According to him, “By the end of this year , major banks will use xRapid as a liquidity tool. By the end of next year , I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity.”
Kaushik Punjani, Director, Euro Exim Bank, explaining what the banks wishes to achieve with the move, said: “As a leader in trade finance solutions for global corporates and fintechs, we are uniquely placed to offer new payment channels and ways to source liquidity. Our customers—whether big corporates or individual remitters—have historically been restricted from obtaining suitable funds or settling transactions in a cost efficient and timely manner. Working collaboratively with Ripple and selected counterparts, we have designed, tested and are implementing both xCurrent and xRapid in record time, and we look forward to the benefits these will bring our customers.”