MoneyNetInt is the latest new partner for Ripple and the RippleNet suite of products. The international currency exchange company will use Ripple rails to lower prices, increase speeds and improve efficiency no matter the destination or direction of a financial transaction.
MoneyNetInt is the latest in a significant string of such partnerships. Ripple’s latest corporate adopters have included PNC Bank, the Royal Bank of Canada, Wal-Mart’s MoneyGram and Western Union. In every case, RippleNet, XRapid and other Ripple products have decreased friction for all parties involved, establishing it as a new global standard for cross-border payments.
MoneyNetInt isn’t the largest of these partnerships, but the announcement highlights Ripple’s ability to bring value to financial entities outside the private banking sector. MoneyNetInt have also been enthusiastic in their statements about the adoption of Ripple’s technology.
MoneyNetInt CEO Talks About Ripple
MoneyNetInt CEO Yishay Trif has made a number of statements on the subject. About Ripple’s decentralised Application Programming Interface, he said “With Ripple, we can connect to numerous companies via one API. It’s basically a hub for multiple end users… Connecting to banks that implemented the system is also much easier now.”
Trif has also complemented the stable nature of Ripple’s platform. This has been proven by Ripple’s productive partnerships with PNC and others. Says Trif, “The speed of data transfer is amazing. A transaction can go through in an amazing pace.”
Trif has made important statements regarding Ripple XRP’s identity as something other than a cryptocurrency. MoneyNetInt uses Ripple, not Bitcoin. “That is why we wanted to be among the first to implement DLT. But when it comes to cryptocurrencies, we have a long way to go in terms of regulations and implementation.”
Finally, Trif stated that Ripple will allow his company to lower conversion rates, improving exchange rates for customers on both sides of any currency transaction. He also expresses optimism that the Ripple partnership will help his company expand into new markets – those which would have been too costly to pursue prior to RippleNet.
Will Ripple’s Partnerships Boost the Price of XRP?
Ripple XRP investors seem immune to good news in 2018. Even as Ripple has become a global innovator in international finance, the price of Ripple XRP has drifted in a persistently southward trajectory for months. We still believe that this is a bizarre, but temporary, situation.
It’s only a matter of time before investors realise that Ripple is on a different level than most blockchain platforms. While some might not like Ripple’s approach to centralisation, or their role working within the banking status quo, the simple fact is that Ripple is a technology that industry loves.
Ripple isn’t some ICO with a good idea but no product. RippleNet is a suite of products that you can use today. And institutions are doing so! Sooner or later, Ripple adoption will reach critical mass. Ripple XRP will be bound up in international transactions so much that the trading supply of XRP will be reduced. These basic realities of supply and demand will make our irrational markets realise that XRP is a true asset, and prices will finally start to reflect reality.
Until then, you can buy Ripple XRP at bargain prices – very likely for a limited time only.
(*Information in this article should not be taken as investment advice.)
Featured image source: Pixabay