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The Impact Of RippleNet On The Real World

The Impact Of RippleNet On The Real World
Breaking News / Ripple

After Mercury FX partnered up with the second biggest cryptocurrency as one of Ripple’s 200+ customers, the firm announced through their official Twitter handle that they transacted their biggest payment across the RippleNet with a positive conclusion.

By using XRP, the company transferred $4,552.41 while noting that the UK based, Mustard Foods, was able to save just under £80 on 31 hours on the transaction. As reported by Ethereum World News, this company utilising RippleNet is one of the best examples of using the product and the impact that it could have as it opens up its doors to fast orders, quick payments and cheaper expenses.

Ripple has recently announced earlier this week their official website that 13 new financial organisations have joined RippleNet and so they are increasing the volume of the total worldwide customers to more than 200. At the time of writing, RippleNet currently operates in 40 countries across six continents.

Out of the 13 new financial organisation that is now on board with Ripple, five of them use the companies XRP to source instant liquidity for their cross border payments. These include SendFriend, Transpaygo, FTCS, JNFX and Euro Exim Bank.

“By the end of this year [2018], major banks will use xRapid as a liquidity tool. By the end of next year [2019], I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity.”

The team at Ripple have had a lot of success which could be standing by their marketing strategy and future plans of making the financial industry a better place to be. Even though they are replacing the traditional banking system, they are helping them make cheaper payments and at a faster pace. Not only this, but it finds its way to the spotlight in the crypto space… who knows, maybe mass adoption is right around the corner?

What are your thoughts? Let us know what you think down below in the comments!

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