Ripple has been adopted by ten other banks, including the Spanish BBVA, which will allow the clients of these banks, when this is operational, to carry out cross-border transactions with greater ease and comfort.

Cryptocurrencies are currently on the rise and the forecasts are that this year they will explode on a large scale, since it is expected that the New York Stock Exchange, Japan, China and Russia will allow working with Ethereum, in addition to the movements related to Bitcoin. Ripple for its part is also growing in popularity, penetrating the traditional banking sector, where ten banks have adopted this currency and allows working with them and among these banks is the Spanish bank BBVA, which allows the exchange of these cryptocurrencies for euros.

Ripple Labs continues to add the banks they work with and these are getting bigger, offering bank customers more payment options. According to Ripple's press release, the banks that have been unique are: MUFG, BBVA, SEB, Akbank, Axis Bank, YES BANK, SBI Remmit, Cambridge Global Payments, Star One Credit Union and eZforex.com. This trend is very interesting, since it allows adding new payment service providers. This makes it clear that the Blockchain is entering banking with enthusiasm and that they see viable working with cryptocurrencies.

The press release speaks of the list of newcomers to operate with this currency as 'some of the largest banks in the world, provide innovative payment services (...), more and more customers are turning to Ripple for cross-border payments'.

RIPPLE ADOPTION

Ripple CEO Brad Garlinghouse is confident in their technology and sees the acceleration of the increase in clients working with them saying that 'people know that Ripple is the only solution for Blockchain payments that has been proven in the real world and is driving demand from financial institutions of all shapes and sizes, because they want to stay ahead of the race. ' Ripple has been adopted by some financial institutions or is in it, but no dates have been given to start supporting financial operations based on these currencies.

WE TALK ABOUT ETHEREUM, THE VIRTUAL CURRENCY OF THE MOMENT AND FOR WHICH BANKS AND COUNTRIES SUSPIRE

'We are excited to work with Ripple to provide new types of payment services to change the experience of our customers through the power of Blockchain technology. To demonstrate our commitment, we are joining the Bank of Japan Consortium to collaborate with other Japanese banks to move to commercial use of Ripple's global network, 'said Hirofumi Aihara, CEO of Bank of Tokyo-Mitsubishi UFJ

POSITIVE OUTLOOK FOR XRP

This adoption focuses on cross-border transactions, but within the same bank. It will be a milestone when banks begin to carry out transactions through the Blockchain, it happens between them and their counterparties. XRP has shown a significant increase in price and the market capitalization in 2017 has been great news. Ripple Labs did not have a very good time over the year, but now it returns to growth and prosperity, having hired more than 150 people to work on this currency. We must emphasize that the adoption by banks of this Altcoin offers stability to this currency and a very important increase in its price.

Source: Cointelegraph