Here Are All The Developments On Ripple (XRP) In 2018
In this article, we will examine some of the best moments of 2018 for the FinTech startup Ripple and the XRP token used in its products (used by some of its products, such as xRapid).. Here are All the Developments of Ripple (XRP) in 2018…
January: The month of giant partnerships and listings
- On January 24, Ripple company announced that new faces have joined its ecosystem. Ripple announced that MercuryFX, MoneyGram and Cuallix will take part in the piloting of xRapid. Alastair Constance, founder and CEO of Mercury FX, said:
Digital assets promise fast transaction times. But XRP is much faster than all of them, including Bitcoin. Cutting settlement times from hours to days to just three seconds or less will remove billions of dollars in unnecessary middleman fees.
- Japanese financial services giant SBI Holdings said on January 30th that it is approaching. cryptocurrency exchange SBI announced that Virtual Currencies will only support one crypto asset at the time of its launch: XRP. This was not surprising as we already knew that SBI Holdings CEO and Chairman Yoshitaka Kitao has a huge interest in XRP. In fact, it contains the following information Yoshitaka Kitao told Ripple’s senior director of venture partnerships Emi Yoshikawa in August 2017 interview :
Not just a clear use case, XRP has other faster, cheaper and more scalable than any digital asset. I believe it will become a global standard in digital currencies. What is your plan to use Ripple technology and XRP in SBI’s businesses? We invested in the company in January 2016 and then launched SBI Ripple Asia (joint venture) in May 2016. In Japan, we are in the top spot for using Ripple for both local and cross-border payments. And we’re increasingly interested in using XRP for payments.
February: month when Ripple expands into Saudi Arabia and China
- Ripple announced on February 7 that “Lianlian International, a licensed Chinese money service company in Hong Kong with 150 million registered users in the region”, has joined RippleNet and that there is a cross-border between China and the USA and Europe. said it will use xCurrent to strengthen transactions.
- Ripple said in a statement on February 14 that Saudi Arabian Monetary Authority (SAMA) -Central Bank of the Kingdom of Saudi Arabia (KSA)- Ripple and banks’ KSA’ announced that it has signed an agreement to help them improve their payment infrastructure using xCurrent in. It was also emphasized that this “groundbreaking” pilot program was “the first of its kind initiated by the central bank”. Participating banks use xCurrent to instantly process payments sent in and out of the country with greater transparency and lower cost.
March: The Bank of Japan Consortium (JBC) was formed and Bloomberg transfer was initiated.
- On March 1, Ripple announced that Cambridge Global Payments has launched a pilot program to “use XRP in cross-border payment flows via xRapid.”
- 6 In March, Ripple announced the Bank of Japan Consortium (JBC), “consisting of 61 banks occupying more than 80 percent of all banking assets in Japan” and managed by SBI Ripple Asia.. This consortium will release a groundbreaking smartphone app called “MoneyTap” powered by Ripple’s Blockchain technology.. The purpose of the bank consortium is to enable its clients to transact instantly 24 hours a day, seven days a week.
- On March 9, Cory Johnson, former journalist and editor-in-chief of Bloomberg Television, joined Ripple as Market Marketgist
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April: The month when banking giant Santander announced its partnership with Ripple
- On April 12, banking giant Santander announced that “in four countries announced the launch of Santander One Pay FX, the first Bockchain-based international money transfer service (offered to retail customers in Spain, UK, Brazil and Poland). Using Ripple’s xCurrent, the application enables customers to make international transfers in many cases the same day, or the next day.
- On April 26, Ripple scientist vice president product management Asheesh Birla introduced five new customers. published a blog post explaining: FairFX, Exchange4Free, RationalFX, UniPAY and MoneyMatch. xVia is Ripple’s standard payment API, “no software required” setup, and allows users to seamlessly send payments globally, making payments transparent and with rich information such as invoices attached to the status.
May : Coinone Transfer partnership, Xpring and the month the pilot results were announced
- On May 8, Coinone Transfer, a payments business and a subsidiary of South Korean cryptocurrency exchange Coinone, added xCurrent to RippleNet’s ecosystem.
- On May 10, Ripple reported aggregated results for several pilots of xRapid:
For payments in the critical remittance corridor between the USA and Mexico, Financial institutions using xRapid saved 40-70 percent over what they normally pay other stock brokers. Average xRapid payout took just over two minutes compared to today’s average. It takes two to three days when sending cross-border payments. The portion of the transfer that is tied to the XRP Ledger takes two to three seconds, with additional processing time dependent on movement between the tool digital asset exchanges and local payment rails.
- May 14 In , Ripple announced “Xpring” (announced as Spring), a new venture that will invest, incubate, receive grants and grants to “companies and projects run by proven entrepreneurs”. He also added that it is powered by the XRP Ledger, the open-source, decentralized technology behind XRP, to solve its customers’ problems in a transformative way.
June: the month the University Blockchain Research Initiative was announced
- On June 4, Ripple introduced “The University Blockchain Research Initiative (UBRI), which collaborates with top universities in the world to support and accelerate academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.
- On June 27, Ripple announced that Kotak Mahindra Bank of India will use xCurrent for instant remittance payments to the country.
July: The month of CTO appointment
- On July 11, Ripple announced that David Schwartz, Ripple’s Chief Cryptographer, has been appointed as the Chief Technology Officer (CTO) of the company.
August: The month when three exchange partners were selected for xRapid
- 16 In August, Ripple selected three exchange partners for xRapid. Bittrex will act as the preferred digital asset exchange for xRapid transactions moving in US dollars. The preferred exchanges for Mexican pesos and Filipino pesos will be Bitso and Coins.ph.
September: The month when the partnership of TransferGo, NCB, PNC Bank and SCB was announced
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- On September 5, TransferGo, an international cheap money transfer company with offices in Lithuania and the UK, announced that “Blockchain has started enabling real-time transfers” (as we thought). He also added that the “TransferGo NOW” service allows “customers to make instant money transfers from anywhere in Europe to India.” The National Commercial Bank (NCB) announced that it has joined RippleNet.
- On September 19, Ripple and PNC Bank announced that PNC Treasury Management became a member of RippleNet and that PNC commercial customers “receive real-time cross-border payments through Ripple. ” announced that it will be possible soon.
- On September 28, Ripple announced that Siam Commercial Bank (SCB) will be the first financial institution on RippleNet to pioneer a key feature called “multi-hop”. This allows them to make frictionless payments on behalf of other financial institutions in the network.. This eliminates the need for a one-to-one connection (or bilateral relationship) between financial institutions to settle payments.. Using multi-hop, we see that SCB can “receive and transmit a payment without a bilateral relationship between the sender and beneficiary institutions.”
October: Investing in XRP The biggest news of the year has been announced
- On the first day of the two-day Swell 2018 Conference on October 1, Ripple announced that this is arguably the biggest news of the year for anyone investing in XRP: Ripple announced that xRapid is finally commercially launched and is in production with MercuryFX, Cuallix and Catalyst.
November: The month when the market exploded in partnership with the giant CIMB Group
- On November 14, Ripple announced that it has a new strategic partner: CIMB Group, (according to Wikipedia) “A Malaysian universal bank located in Kuala Lumpur and operating in high growth economies in ASEAN. Because of this partnership, we learned that CIMB has joined RippleNet.
Ripple’s Blockchain-based solution was used to develop CIMB’s proprietary remittance product called SpeedSend.. This service allows customers to send and receive money with direct account crediting and instant cash collection. Development increases cross-border remittance access worldwide. It makes money on corridors to both ASEAN and other countries – such as Australia, USA, UK and Hong Kong.
December: XRP’s Binance’ also the month it became the base currency
- On December 24, Changpeng Zhao (“CZ”), co-founder and CEO of leading cryptocurrency exchange Binance, announced to XRP HODLERs that XRP stated that there may soon be a base currency in the stock market. Later, the stock market took the first step in this direction and announced that it added TRON and XRP trading pairs to its platform.. The exchange kept its promise and XRP became the base currency on Binance.
- On June 4, Ripple introduced “The University Blockchain Research Initiative (UBRI), which collaborates with top universities in the world to support and accelerate academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.
- On June 27, Ripple announced that Kotak Mahindra Bank of India will use xCurrent for instant remittance payments to the country.
July: The month of CTO appointment
- On July 11, Ripple announced that David Schwartz, Ripple’s Chief Cryptographer, has been appointed as the Chief Technology Officer (CTO) of the company.
August: The month when three exchange partners were selected for xRapid
- 16 In August, Ripple selected three exchange partners for xRapid. Bittrex will act as the preferred digital asset exchange for xRapid transactions moving in US dollars. The preferred exchanges for Mexican pesos and Filipino pesos will be Bitso and Coins.ph.
September: The month when the partnership of TransferGo, NCB, PNC Bank and SCB was announced
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- On September 5, TransferGo, an international cheap money transfer company with offices in Lithuania and the UK, announced that “Blockchain has started enabling real-time transfers” (as we thought). He also added that the “TransferGo NOW” service allows “customers to make instant money transfers from anywhere in Europe to India.” The National Commercial Bank (NCB) announced that it has joined RippleNet.
- On September 19, Ripple and PNC Bank announced that PNC Treasury Management became a member of RippleNet and that PNC commercial customers “receive real-time cross-border payments through Ripple. ” announced that it will be possible soon.
- On September 28, Ripple announced that Siam Commercial Bank (SCB) will be the first financial institution on RippleNet to pioneer a key feature called “multi-hop”. This allows them to make frictionless payments on behalf of other financial institutions in the network.. This eliminates the need for a one-to-one connection (or bilateral relationship) between financial institutions to settle payments.. Using multi-hop, we see that SCB can “receive and transmit a payment without a bilateral relationship between the sender and beneficiary institutions.”
October: Investing in XRP The biggest news of the year has been announced
- On the first day of the two-day Swell 2018 Conference on October 1, Ripple announced that this is arguably the biggest news of the year for anyone investing in XRP: Ripple announced that xRapid is finally commercially launched and is in production with MercuryFX, Cuallix and Catalyst.
November: The month when the market exploded in partnership with the giant CIMB Group
- On November 14, Ripple announced that it has a new strategic partner: CIMB Group, (according to Wikipedia) “A Malaysian universal bank located in Kuala Lumpur and operating in high growth economies in ASEAN. Because of this partnership, we learned that CIMB has joined RippleNet.
Ripple’s Blockchain-based solution was used to develop CIMB’s proprietary remittance product called SpeedSend.. This service allows customers to send and receive money with direct account crediting and instant cash collection. Development increases cross-border remittance access worldwide. It makes money on corridors to both ASEAN and other countries – such as Australia, USA, UK and Hong Kong.
December: XRP’s Binance’ also the month it became the base currency
- On December 24, Changpeng Zhao (“CZ”), co-founder and CEO of leading cryptocurrency exchange Binance, announced to XRP HODLERs that XRP stated that there may soon be a base currency in the stock market. Later, the stock market took the first step in this direction and announced that it added TRON and XRP trading pairs to its platform.. The exchange kept its promise and XRP became the base currency on Binance.
Ripple’s Blockchain-based solution was used to develop CIMB’s proprietary remittance product called SpeedSend.. This service allows customers to send and receive money with direct account crediting and instant cash collection. Development increases cross-border remittance access worldwide. It makes money on corridors to both ASEAN and other countries – such as Australia, USA, UK and Hong Kong.