Ripple is apparently doing well. Recently the company signed an agreement with Western Union, and a few days later made a partnership with the Central Bank of Saudi Arabia. The Central Bank of Saudi Arabia became the first regulator of such level, which introduced xCurrent software on the basis of Ripple for instant payments in real time, as well as for currency exchange. Potentially, this can significantly transform the banking industry around the world. Meanwhile, Ripple's capitalization increased by 10%.
➡️There are several reasons for the Ripple's popularity among banks and payment systems. First, Ripple is not a crypto currency, built on a blockchain, but a payment gateway system in which the XRP token acts as a link. The word "crypto-currencies" does not appeal to banks and while Ripple developers claim, that their system is not a crypto-currency at all, Ripple makes profit.
➡️Besides this, Ripple is really fast, transparent and reliable system. By the way, there was not a single message about system hacking.
➡️One more reason of Ripple's success is small fees. Since 2014 the company has been cooperating with many banks around the world, carrying out cross-border payments and being in this business a direct rival of the more expensive Swift system. And it looks like Swift is losing the race..jpg)
Culled from: Crypto maaker news
Image from: Google