XRP-Powered Euro Exim Bank Is Exploring Ripple’s Technology

Ripple and XRP have been doing great so far this year, and even if XRP’s price is still not mirroring all the achievements that have been marked by these two entities, the successes keep pouring.

The latest massive achievement has been Ripple teaming up with MoneyGram.

This partnership will allow MoneyGram to use xRapid, which is powered by XRP for global payments.

Garlinghouse told Bloomberg TV the partnership would help Ripple revolutionize the cross-border payments industry.

Euro Exim Bank explores Ripple’s tech

As you may recall, Euro Exim Bank is the very first bank that decided to adopt the XRP-powered xRapid and ditched SWIFT.

The head of compliance and operations at the bank, Graham Bright has addressed some interesting issues for BloxLive TV and said that the company is exploring how it can use Ripple’s suite of payment technologies in order to power contracts for instruments like bonds and derivates, the Daily Hodl reports.

He said, “Where we’re also moving with this from a fintech point of view is, how can we take our journey even further forward with Ripple. Not just from the payment perspective. Not just from the use of the digital asset.”

He continued and explained: “But perhaps we can also embed instructions for bonds, derivatives, foreign exchange, inside a Ripple message so that we can actually put the whole of the contract point for a particular trade or a buy or a sell for a particular commodity inside a Ripple message as well. So it not only carries a payment instruction, but also the underlying contract’s detail as well.”

He also said that Euro Exim Bank is planning to launch one of the world’s first bank-backed crypto exchanges which will let users buy and sell XRP and more digital assets. It seems that it will be following VCTRADE’s steps.



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