Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

XRP stays strong as more payment providers leverage on Ripple

Olumide Adesina by Olumide Adesina
April 6, 2022
in Cryptos
Ripple scores another win against the United States SEC
Share on FacebookShare on TwitterShare on Linkedin

Payment companies are quickly taking advantage of Ripple, a fast-growing payment platform that offers secure payment options, as investors increasingly hold on to its token amid growing political geopolitical uncertainty and the rampaging strong dollar.

iRemit, a non-bank remittance provider that uses Ripple’s Open Digital Ledger for Australia-to-Philippine’s remittances, recently announced a partnership with Velo labs to access the $34 billion cross-border payment market in the Philippines.

RelatedPosts

Crypto Focused Hedge Funds are Shorting USDT – Reports

Top Crypto: Bitcoin Leads Broader Altcoin Rally

Novatti Group joined RippleNet’s On-Demand Liquidity (ODL) service last year to make cross-border payments using the digital asset, XRP.

Through a partnership with iRemit, the largest Filipino-owned non-bank remittance provider, Ripple and Novatti targeted first the Australia-Philippines corridor

Consequently, the token’s price at the time of writing was $0.814657 and its volume was $2 billion per day. XRP however as posted a weekly loss of over 5% as the strong dollar hamper its upsides

This is why it is happening

  • Asia Pacific countries are leading the way with instant payments through digital banking solutions, according to the crypto giant. By experimenting and innovating to better facilitate both cross-border and domestic instant payments, they are increasing the region’s prominence and leadership in the payments sector.
  • Digital banking has grown to dominate the APAC region in recent years, with 20% of approximately 250 digital banks worldwide located there.
  • Also, the growing adoption of smartphones within APAC has opened up the market for the launch of new applications that allow instant payments. Consumers and businesses alike will be on the lookout for real-time payments as smartphone usage in the region rises to 83% by 2025.

Ripple’s legal tussle likely outcome

  • A settlement could be reached by the end of April, according to a number of legal experts. The developers of XRP are widely believed to have the upper hand in a potential trial, leading to speculation that the SEC may agree to settle.
  • There are several reasons to believe that a settlement may be reached as soon as this month, even though no dates have been set in stone.
  • According to the SEC filing, Ripple should pay US$1.3 billion plus interest, i.e., the proceeds from the XRP coin offering plus a bit more. In the event that the two parties settle, the amount will likely be much smaller than that. Compromise is often expected between both parties in settlements.
  • Furthermore, many experts believe Ripple will win in the pre-trial hearings now taking place. As evidence that a Ripple trial will be successful, they often point to Ripple’s wins on depositions and witnesses.
  • With Ripple’s “leverage” over SEC, it would seem likely that a relatively small fee would be settled between the two parties.

That being said, the team at Ripple Labs is working on improving the user experience. It is constantly working on improving its blockchain as well as recruiting banks to use its payment network.

Related

Tags: Ripple

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    •  Investors in MTN Public Offer gain N35 billion in 6 months
    • Crypto Focused Hedge Funds are Shorting USDT – Reports
    • Customs seizes N1.3bn worth of smuggled goods in Ogun between May and June

    Follow us on social media:

    Recent News

    : MTN-Nigeria-CEO-Karl-Toriola

     Investors in MTN Public Offer gain N35 billion in 6 months

    June 28, 2022
    Tether, the most promising stable coin, now the third most valuable cryptocurrency

    Crypto Focused Hedge Funds are Shorting USDT – Reports

    June 27, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com