Something really good just happened to Ripple, and it’s bound to propel the global company to the next level in its journey to foster mass adoption of its various global payments solutions.
On July 19th, 2019, a company closely associated with Ripple partnered with another entity that might have access to a large customer base to add to Ripple’s growing client base.
According to a tweet sent out by a crypto fan, the company in question is MoneyGram, which has now partnered with Sentbe. Sentbe is a money transfer operator for SamsungPay Korea.
Just a few weeks ago, MoneyGram announced its willingness to continue testing various Ripple products with the intention of eventually fully integrating them in its far-reaching global payment model.
Granted, Ripple’s payment solutions like the xRapid and xCurrent have been proven to be very fast and cheap as compared to the existing systems. As such, it’s not a surprise that many payment channels, including banks and other various financial institutions, would want to adopt Ripple’s payment solutions to improve their operations.
What It Means For XRP
For one, it’s pretty clear that Ripple has been making huge efforts to get as many of its customers as possible to adopt the use of XRP as a base currency via xRapid. The many partnerships the company has managed to make over the last one or two years have exposed its products to a huge customer base. As at now, Ripple has well over 200 financial institutions on its RippleNet.
If more of these customers adopt XRP, the crypto’s demand would increase and possibly spike price-wise. In fact, a quick look at XRP’s market dynamic as presented on CoinGecko indicates that the crypto has already felt the impact of the new development over the last 24 hours. XRP has bumped up by around 3.5% to reclaim the $0.327 value.