XRP Adoption Increases: Ripple’s Digital Asset Reaches 50 New Banks In New Blockchain And Crypto Pilot

Ripple began 2019 with a lot of achievements especially regarding new partnerships and the adoption of the company’s products, especially XRP and xRapid.

For instance, the latest company that supports XRP is the Japanese financial giant SBI who is also Ripple’s partner. The firm supports adoption massively with one of their most recent moves.

They say that the new crypto exchange VCTRADE will be officially launching in March, but deposits and withdrawals for Bitcoin, XRP, and Ethereum are already up and running.

The platform is currently preparing to enable trading.

R3 teams up with Instimatch Global

R3 enterprise blockchain company teams up with Instimatch Global which is a digital network for institutional money market lending.

Instimatch is currently testing R3’s Corda Settler, and its ability to settle transactions with XRP is a pilot with 50 banks.

Corda Settler will give companies a brand new way of moving crypto and traditional assets on a distributed ledger. The platform supports XRP as the very first crypto payment rail.

Integrating Corda Settler

Instimatch is currently building a dApp that will integrate Corda Settler in order to power transactions in real time.

“Coupling the DApp with the latest settlement API (R3 Settler/XRP), we can offer the high speed of payments necessary for the execution of intraday trades. Our money market offering in R3 Corda is a highly secure, GDPR compliant DApp allowing banks, family offices, corporations, utilities, etc. to exchange liquidity amongst each other,” Instimatch says.

https://twitter.com/XrpCenter/status/1097680306717581318

The official notes continue and say that “This DApp offers the modern alternative to voice broking and replaces our present, centralized database version which has seen a volume of over 1 Billion USD equivalent and 50 Banks are on-boarded.”

The pilot with the banks is live, according to XRP Research Center but the names of the banks which are involved in the project is not out yet.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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