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Ripple Products Penetrate The Market Across The Board

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Ripple products continue to demonstrate their utilitarian value.

Apparently, Ripple products and XRP led the pack last week regarding cryptocurrency adoption. Indeed, the news from the Ripple Foundation reassured the XRP community that the coin has what it takes to be the most sought-after in 2019. Now, let’s do a recap of how it played out last week.

Ripple Welcomes Two Companies to Its RippleNet

According to Focus Malaysia, cross-border remittance solution, Moneymatch, announced that it has joined RippleNet. As a result, the company noted that it has successfully adopted Ripple products xVia to process cross-border money transfer. The company disclosed that they used the Ripple technology to move funds from Malaysia to Spain. In addition, Moneymatch stated that the development shows that the companies in Malaysia are ready to use the latest technologies in the financial industry.

Similarly, UK-based FOREX trading firm MoneyNetInt has also disclosed that it has joined the list of Ripple products. It joined, fully integrated, and deployed a decentralized payment system that leverages RippleNet. The FOREX trading company, which also converts currency for its clients, noted that it would now be using the innovative technology in its operations.

Bitvo Lists XRP/CAD 

Bitvo, the Canada-based virtual currency exchange, now offers a new pair of XRP with local currency, Canadian dollars. Indeed, XRP/CAD pair is now available on Bitvo. The exchange confirmed the latest addition in a tweet last Thursday, giving the link to the users to sign up at my.bitvo.com/register. In the post, Bitvo pointed out that users could sign up and start trading the same day. No doubt, this latest adoption is a plus to the exchange as it will improve its liquidity in Canada and elsewhere in the world.

Ripple Products Adopted by Other Firms

Apart from Bitvo and MoneyNetInt, other firms are also adopting Ripple products to enhance their operations. One of the firms that have adopted Ripple native currency, XRP, is feeless digital currency exchange COBINHOOD. The exchange pairs XRP with Bitcoin and a stablecoin, USDT. Earlier, CryptoBlockWire reported that alternative currency lender, Nexo, announced that it is officially the “first and only crypto lender” to use XRP as a collateral. This move puts Nexo in a different class as the only cryptocurrency in the world to provide such a service. In an October 17th tweet, the company confirmed the latest development, noting that the measure will help in “keeping the upside potential of your XRP.”

No doubt, there wouldn’t be a better time to be a proud member of XRP community as now. Moreover, self-storage startup Omni has joined the long list of firms that have adopted XRP. With the integration of XRP on Omni, more clients can now rent their items and get paid in virtual currency.

Risk Disclosure

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

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