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lagunaselkie / Sandra Harvey
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2024-09-03 21:36:56

lagunaselkie on Nostr: Who knows?……… Ripple, the company behind the cryptocurrency XRP, has formed ...

Who knows?………

Ripple, the company behind the cryptocurrency XRP, has formed numerous partnerships with banks and financial institutions globally to facilitate cross-border payments and improve financial transaction efficiency. Some notable partnerships and collaborations include:

1. SBI Holdings (Japan): Ripple has a significant partnership with SBI Holdings, a financial services company in Japan. Through their joint venture, SBI Ripple Asia, Ripple has been working to expand the use of XRP and RippleNet technology across Asia, particularly in Japan. This partnership is strategic for Ripple's presence in the Asian market, where regulatory developments and technological adoption are accelerating.

2. Santander (Spain): Santander, one of the largest banks in the world, has been using Ripple's technology for its One Pay FX service. This allows for same-day international payments in Europe and the Americas.

3. American Express (USA): American Express partnered with Ripple to explore blockchain-based cross-border payments. This partnership aimed to enhance international transactions for American Express's business customers.

4. Standard Chartered (UK): Standard Chartered has been involved with Ripple for cross-border payments and is a member of the RippleNet Committee, which advises on network governance.

5. MoneyGram (USA): Ripple had a partnership with MoneyGram, a major remittance company, where MoneyGram used XRP for liquidity in its international payment services. However, this partnership ended in 2021 after Ripple's legal challenges with the SEC.

6. Tranglo (Malaysia): Ripple acquired a 40% stake in Tranglo, a Malaysian cross-border payments specialist. This acquisition aims to expand the use of RippleNet's On-Demand Liquidity (ODL) service, leveraging XRP in the Southeast Asian market.

7. Novatti Group (Australia): Ripple partnered with Novatti Group, an Australian fintech company, to use RippleNet for remittances between Australia and Southeast Asia.

8. BCRemit (UK): BCRemit is a UK-based remittance company that uses RippleNet for fast and cost-effective transactions to the Philippines.

9. Siam Commercial Bank (Thailand): Ripple partnered with Siam Commercial Bank to enhance cross-border payment services and improve the user experience for remittances, particularly in Asia.

If these partnerships expand due to positive regulatory developments in countries like Japan and Switzerland, it could significantly increase the demand for XRP. Japan and Switzerland are known for their progressive regulatory stances on cryptocurrencies, which could provide a favorable environment for Ripple's technology and XRP's adoption. Additionally, the regulatory clarity could encourage more financial institutions to partner with Ripple, further increasing XRP's use in cross-border transactions.

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