Ripple And Coinbase Partnership Rumors Surface
Ripple has been making headlines a lot lately, and the San Francisco-based company managed to bag a lot of important partnerships along the way.
Now, new rumors regarding a potential new partnership surfaced.
Ripple to team up with Coinbase?
There’s been a recent talk at the IECD Global Blockchain Policy Forum in Paris which triggered rumors of a partnership between Ripple and Coinbase.
The head of Ripple’s global institutional markets team, Breanne Madigan reportedly joined a panel on regulation in digital finance.
When Madigan talked about Ripple’s XRP-powered cross-border payment solution xRapid, she used Coinbase as an example of the way in which a company could use xRapid to move value around the world.
“We signed a deal with MoneyGram to help facilitate their cross-border flows. So the way it works is, through our partnership, we send MoneyGram’s flow to one of what we call our originating exchanges – say it’s Coinbase in the US, as an example,” she said.
She continued and explained that “The US dollars get swapped to XRP there and then they get sent across the border to a local exchange in Mexico, call it Bitso, in this example. Bitso then takes the XRP and swaps it into local Mexican pesos.”
Ripple considers entering global micropayments industry
Not too long ago, we reported that Ripple’s senior VP of product management Asheesh Birla told the Change the Wave podcast that the company is exploring the ways in which it could play a direct role in the emerging world of micropayments.
It seems that the company considers expanding its services beyond cross-border transactions.
“While we think about payments as the initial use case for Ripple, I’m thinking about what other cool products can you build that we can take back to our customers – one of them being microloans,” he said.
Coinbase is a digital currency exchange headquartered in San Francisco, California.