Ripple Is Working To Connect A Long List Of Financial Institutions
Ripple has been gaining a lot of popularity these days, and the San Francisco-based firm continues to bag more and more partnerships.
It’s been just revealed that Ripple appears to be working to connect a long list of financial institutions through a digital matchmaking effort.
More than 170 financial institutions are on Ripple’s website
It seems that there are more than 170 financial institutions whose names can be found on Ripple’s website under the umbrella of a Ripple page titled “Matchmaking.”
A lot of them are known to be Ripple’s partners.
The online publication the Daily Hodl notes that “some of the URLs seem to reference companies that are not currently public members of RippleNet, including Revolut, a UK-based financial technology company, and Diners Club, a banking and payment services firm.”
— ༜༝⚡ (@XRP_stuart) September 29, 2020
As you know by now, Ripple owns more than half of the total supply of XRP, and the firm is focused on connecting financial institutions in order to boost the crypto-based payments network, ODL.
ODL is powered by XRP and the product aims to facilitate cheap, easy, and secure cross-border transactions.
Ripple also announced back in 2019 that they plan to offer financial institutions on the network a hub that they can use to analyze data on fiat and XRP transactions. They would also have the ability to connect with one another.
The online publication mentioned above noted that back in 2019, Marcus Treacher, Ripple’s senior vice president of customer success, said the following:
“Ripple is serving a genuine community of customers – banks and payment companies – which work together as a community,” he said.
He continued and explained that “Not just customers of Ripple, but their own community. It’s really, really important. And that model enables customers to then find other customers easily. Matchmaking is more straightforward; connecting others is much easier.”
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.