Ripple Teams Up With Mojaloop Foundation To Bring Financial Services To The Unbanked
Ripple has been making headlines a lot even in 2020 when we’re in the middle of a global crisis.
Now, it’s been just revealed that the firm joins Mojaloop Foundation as a sponsor member to bring the unbanked populations into the financial ecosystem.
Making moving money across the globe easy
Just in case you don’t know, Mojaloop is an open-source software platform that plans to make sending and getting money really easy for everyone.
According to the online publication, the Daily Hodl, this aims to provide ‘one loop for everyone’.
This will be achieved by “reducing upfront and maintenance costs, allowing secure same-day settlements and enabling continuous adaptation and development through its community of users,” according to the online publication mentioned above.
It’s also the startup, which uses XRP token as bridge currency for its cross-border remittance solutions, addressed the ways in which the blockchain and crypto help improve payment systems.
“There has been significant progress—systemic barriers such as outdated payment infrastructures and challenges to interoperability are now being solved through emerging technologies, like blockchain and crypto. The penetration of mobile phones and digital wallets are increasing dramatically, enabling greater access to financial mobile applications.”
Ripple’s XRP vs. BTC
Earlier today, we addressed some fundamental advantages that Ripple’s XRP has over BTC.
— CryptoWhale (@CryptoWhale) September 14, 2020
He continued and said: “Data shows that 79% of XRP Investors fell victim to FOMO during the 2017 pump and dump. This has spawned lots of haters for XRP since many had lost money, which created a subconscious negative bias against the coin.”
You should check out his complete thread on Twitter in order to see what more he had to say.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.