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.
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.
I’ve made a lot of REALLY bad calls in the bear market but none as bad as the day I said that I would throw XRP in the garbage!— Ran NeuNer (@cryptomanran) November 19, 2018
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.
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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