Ripple Attracts Institutional Investors In XRP With The Latest Move
Ripple and its digital asset XRP have been making headlines a lot these days.
Ripple has been bagging more partnerships, and the San Francisco-based company was also able to enjoy more adoption of its products.
XRP also witnessed increased adoption, and XRP micropayments have been integrated into Gmail, Microsoft Outlook, and more.
Both Ripple and Wietse Wind’s company XRPL Labs have been boosting XRP a lot lately in a massive effort to push adoption.
Ripple launched a new office in Zurich
Ripple launched just recently a new office in Switzerland that aims to sell XRP to institutional investors.
The office is strategically placed in Zurich which is the biggest city with the highest number of banks.
Ripple enthusiasts and the XRP army of fans obviously became really excited at the news.
Someone tweeted: “This is the start of a revolution. Creating a frictionless global economy. One ripple at a time.”
Another follower wrote, “Curious why they opened a new outlet for XRP when they recently stated sales would be limited.” The person was referring to the changes that Ripple said they would make soon.
Brad Garlinghouse explains the blockchain technology
During the recent Swiss National Bank Conference that was held back in May 2019, Ripple’s CEO, Brad Garlinghouse managed to pleasantly surprise a lot of people when he explained the very essence of the blockchain tech, reports ZyCrypto.
He also managed to enlighten the most influential central and commercial bankers in the world who were in attendance on Ripple Technology and products.
He also explained that Ripple has been working really hard in order to eliminate the flaws of SWIFT which despite being out there for decades did not manage to keep up with the times and the evolution of technology.
SWIFT remained slow, expensive and not reliable enough, compared to Ripple’s products for cross-border payments which are much cheaper, faster and with boosted security.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.