The international scope of Ripple is growing rapidly. In six new markets, from Australia to Brazil, cross -border payments with XRP are made possible. New partnerships in the VAE, among others, give this expansion extra weight and point to a greater adoption of Ripple’s technology.
Sand and Mamo as the first users
An interesting addition is the collaboration with Zand Bank and fintech company Mamo in the VAE. Thanks to the approval of the Dubai Financial Services Authority (DFSA), Ripple can now officially operate there. The choice for Dubai is not coincidental, since the city is developing rapidly as a junction for financial innovation.
With this license, Ripple gets direct access to the local financial sector, which means that cross -border transactions are carried out faster and cheaper. Sand and Mamo are among the first regulated institutions in the region that Ripple Payments will use.
Ripple’s efforts extend beyond geographical expansion. In April, Rlusd, Ripple’s own Stablecoin, was added to the Ripple Payments platform. This currency is intended to make internal payments between financial institutions run more smoothly and would be deployed in the long term.
In addition, Ripple made a takeover in April that shook the industry. With the purchase of Hidden Road, a global Prime Broker, for $ 1.25 billion, Ripple not only gets expertise but also appears within the traditional financial world. This makes it the first crypto company with its own multi-asset prime broker.
More and more faith in XRP
Not only in the Middle East, but also in countries such as Brazil, Australia and the United States, the number of financial institutions that Ripple Payments embraces is growing. XRP is increasingly seen as an efficient bridge currency for international transactions. Big names such as Santander have publicly pronounced their belief in digital payment solutions and see a leading role for XRP in the future.
Ripple has positioned himself firmly as a pioneer in cross -border payments. Thanks to clear regulations in, among other things, the VAE, increasing interest from major financial players and innovations such as the Stablecoin RLUSD, the chance that XRP will play a more prominent role on the world stage.
At the time of writing, the XRP race is at $ 2.37, a slight increase of 0.5% in the last 24 hours.
Source: https://newsbit.nl/ripple-versnelt-adoptie-xrp-betalingen-nu-beschikbaar-in-zes-extra-landen/
