Ripple may be getting another huge partnership as Israeli social exchange eToro is seriously considering adopting the company’s cross-border payment platform xRapid. eToro CEO Yoni Assia revealed this while the U.S yesterday on his Twitter page.
Assia had earlier met with Ripple CEO Brad Garlinghouse at the Paris Fintech Forum where they discussed the possibility of a partnership concerning xRapid.
“I think as a fintech company it’s very important for us to foster relationships with other fintech companies. Obviously, we’re one of the largest trading platforms on XRP – so very interested in forming a relationship with Ripple Labs and understanding what we can do together.”
The eventual possible partnership with eToro will be a huge achievement for Ripple in 2019, probably the first of its kind. It will bring XRP which Rapid uses to settle payments to millions of eToro users which will, in turn, increase its market.
— Yoni Assia (@yoniassia) March 7, 2019
eToro isn’t the only major player in the industry who are considering working with xRapid or has worked with XRP and xRapid. Ripple’s long term partner SBI Holdings has also been a major proponent of XRP and one of the first to adopt xRapid through its cryptocurrencies arm, in addition to many other remittance services companies such as SendFriend, Euro Exim Bank, and IDT.
SBI Holdings CEO had earlier indicated his commitment to bring XRP to a number of major banks in Japan by 2025. The company also expressed its readiness at the time, to bring XRP to its companies when it launches its VC Trade platform in March 2019.
Although Ripple has gotten its fair share of ridicule and criticisms, somehow it keeps gliding along. With partnerships like these, the company may be seeing a brand new boost in xRapid use, as well as XRP market as more customers of partners, continue to adopt the cryptocurrency.
As eToro is probably the biggest cryptocurrency exchange in Israel, xRapid will also be breaking new grounds in Israel and XRP will also be getting a whole new market boom in the country if this partnership eventually works out. It will be nice to see how XRP responds to the change which may be coming very soon.