In positive Ripple news, yet another large remittance provider has officially announced its intentions to use Ripple XRP for global money transfers.
On March 1st, the Canada-based global money transfer company Zip Remit announced via Twitter that it would be implementing Ripple technology to allow its users to send funds across the world.
In a press release, a spokesperson for Zip Remit said that for years, the company has dedicated “huge amounts” of global capital to deliver services to its clients, and that the ability to “move money like information” was a game-changing opportunity to revolutionise worldwide remittance payments.
Over the past year, the real-life applications of Ripple’s services have become an attractive proposition to financial institutions around the world. Ripple XRP can be used as an efficient means to facilitate rapid, cost-effective transactions which means greater profits for the companies involved, and cheaper money movement for consumers – particularly those in developing markets.
The continued adoption of Ripple technology by large banking institutions means that the market value of XRP looks set to rise. Although XRP has been the subject of much discussion throughout February because of market stagnation, most crypto speculators have pointed to overall slow growth across the entire digital currency market during February, hinting that it is only a matter of time before XRP witnesses exponential growth.
Others point towards the fact that large corporations in the finance industry can’t simply switch to XRP without extensive testing and rollouts of the technology, which means it will likely be the end of the year by the time XRP witnesses any significant growth. Once these firms are satisfied with the capabilities of the technology, major implementation will take place, with XRP used as a conduit for transactions all over the world – with major adopters in Brazil, India and Southeast Asia among the first to get involved.
Ultimately, the news of yet another remittance provider backing Ripple should be a clear indicator to investors that now is a great time to get involved with XRP.
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