AMEX joins the RippleNet foundation, something that has caused a sharp rise in the value of this cryptocurrency in recent hours and that has become popular among banks and financial institutions.

One of the cryptocurrencies that 2017 has best suited has been Ripple, the cryptocurrency that cannot be mined, but is among the five with the highest market capitalization. This cryptocurrency based on free software has a great acceptance in the market, since it is little known, but behind this cryptocurrency are companies such as Amazon or Google. Its principle is that it does not have a fee in terms of transactions and has a very short validation period, which is why many banks are adopting it for the transfer of cross-border capital.

The value of Ripple in just a few hours has doubled to $ 0.45, due within others to a new addition to the RippleNet foundation. AMEX was the last to join, just a few days after the confirmation of the incorporation of American Express, something that has allowed this cryptocurrency to rise a lot in value, what is more, this important American credit company has implemented instant payments based on the blockchain from Ripple, but this service is only available to US companies and is only operational for fund transfers to UK companies that work with Santander UK.

Distributed ledger enables parties to track the status and cost of the transaction. An XRP transfer itself 'will come into play later in the evolutionary dynamics', explains Marcus Teacher, Global Head of Strategy Accounts at Ripple. In addition, he highlighted that the association with Skandinaviska Enskilda Banken has generated transactions of 630 million dollars since the second quarter of this year.

"It's only a matter of time before central banks embrace blockchain to settle high-value interbank fund transfers," explains Ripple CEO Brad Garlinghouse. "Just under 100 years ago, in 1927, the famous pilot Charles Lindbergh could have flown across the Atlantic Ocean faster than most of the payments happening today in that same body of water."