Could Interbank Peru And Bitmax Japan Boost Ripple XRP Price
The Japanese messaging giant LINE has announced the launch of its long-awaited cryptocurrency exchange. The new exchange, called BITMAX became live on Tuesday at 3 p.m. Japan time. The exchange is available to over 81 million users based in Japan. With the opening of the exchange, Ripple RXP continues to be made more accessible to a broader audience. The users of the exchange can deposit and withdraw directly via the wallet. They can also start trading cryptocurrency without downloading any additional software.
Ripple XRP price is currently trading at 0.27. As traders are getting familiar with the new cryptocurrency platform, we can expect an increase in the daily volume on XRP coins being traded.
The listing on the XRP coin on the Bitmax Japan exchange is just one of the many news for the Ripple coin.
Indeed on Friday, Ripple has announced that two new financial institutions had joined RippleNet. The two banks are Interbank Peru and Vitesse, which is UK based. Interbank Peru is very popular in South America. It provides a lot of financial services such as ATM services and change machines for facilitating the exchange of notes for coins. Vitesse is a bank as well as a money transmitter that provides cross-border payment services to other banks via a globally distributed settlement network. The two banks were added to a document published by the ever-expanding company Ripple. The report has a list of Ripples xRapid users which include, the financial giant MoneyGram, TransferGo, InstaReM, goLance, Mercury FX and SendFriend. In other news, Ripple-powered MoneyTap has obtained a TRUSTe certification from the Japan Privacy Certification Organization. MoneyTap had recently been announced as one of the significant banking partners of Ripple and SBI Holdings. TRUSTe is a personal information protection and authentication standard that is used worldwide. MoneyTap getting the certification means that the personal information of customers is not misused.
Thus, MoneyTaps reputation keeps on growing, which could only be good news for Ripple investors which were already in a pretty good mood following MoneyGram CEO declarations.
The CEO of MoneyGram, Alex Holmes, has heaped plenty of praise on his companies use of the Ripple platform during a recent interview. The tribute comes after the two companies got into a partnership in June to mutually benefit them. Ripple and MoneyGram decided to enter into a strategic partnership in June.
The partnership was done in two ways;
- Ripple first bought $50 million worth of shares in MoneyGram. This was a 10 % stake in MoneyGram.
- On its end, MoneyGram Partnered with Ripple for digital cross border payments.
Ripples two main products, xCurrent and xRapid, are being used by MoneyGram for faster settlement of payments. Thanks to the partnership, MoneyGram has gotten benefits that include, lower cross border operating costs and quicker transfers.
The Ripple company is truly spreading its web globally and it seems unstoppable.
It is just of matter of time for the XRP value to catch up.