Ripple is About to Crack Record, Adds Malaysian Banking Giant
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Main page Analytics, Banking, Fintech, Asia, Blockchain, Ripple, XRP, Institutional Investors
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Nov. 20, 2018
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It seems that XRP (XRP/USD), the cryptocurrency behind the Ripple startup, doesn’t even intend to lose ground despite the fact that the entire market is going through a really tough time. Recently Ripple announced it has entered into “a strategic collaboration” with one of the largest Asian banks — CIMB Group (CIMB or the Group).

It’s said that as a part of partnership, CIMB will be using RippleNet in order to connect with other Ripple clients.

Ripple Unleashes xRapid Transaction Solution

RippleNet is a global network of financial institutions, which aims to build border-less financial landscape all around the world. The main idea of RippleNet is to help banks to send/receive huge payments in no time with low-cost fees using the decentralized global platform.

CIMB considers to be ASEAN’s fifth largest bank and one of the banks in Asia that uses blockchain tech for fast and cheap international transactions.

The announcement states, that CIMB will use Ripple’s tech in integration with its own product which is titled as SpeedSend. SpeedSend is a platform that gives any CIMB’s client a tool to send/receive funds with “direct account and instant cash collection.”

“We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities,” said Tengku Dato’ Sri Zafrul Aziz, the CEO at CIMB Group.

Conquering traditional financial sector, Ripple makes people to change their opinion regarding its ideology. For example, Ran NeuNer, a CNBC crypto trader host has made a lot of different statements, but he has never regretted about them until this day.

Previously, NeuNer even pointed out that including the situation on the crypto market, ripple has all the chances to become “the number 1 spot by Friday.”

However, it also should be mentioned that earlier NeuNer was forecasting bitcoin (Bitcoin) price rise up to $50,000 by the end of the 2018. One way or another, NeuNer no longer sticks to forecast of his own.

XRP Token Wins Investors’ Sympathy

Earlier, Weiss Rat­ings, the lead­ing provider of au­tonomous, im­par­tial, and con­fided crypto rat­ings and stocks, a de­cent num­ber of vot­ers had vouched for XRP as the best shoddy crypto to put re­sources into. It turned out that the Twit­ter com­mu­nity con­sid­ers in­vest­ing in a dig­i­tal cur­rency such as XRP from Rip­ple as the best in­vest­ment in vir­tual to­kens, worth less than $1.

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