Ripple continues its leadership strategy in the world of financial technology. Such a Ripple strategy is justified, as well as truly working. More and more different structures use Ripple technologies, considering them reliable and interesting. Important events related both directly to the launch of technologies, and with the assumption regarding this. So, the Federal Bank of India will use the Ripple project this year, and experts are also thinking about the likelihood of using Ripple in PagoFX.
Ripple Continues Strategy: Federal Bank of India
Ripple technology will be deployed at the Federal Bank of India. The private commercial bank of India plans to start using the Ripple platform before the end of 2019. The bank draws on the Ripple network, which will explore new financial corridors. Whether the digital asset Ripple XRP will be used in this case is not currently known. However, enthusiasts of Ripple XRP on social networks believe that this is quite likely.
Overall, engaging Ripple at the Federal Bank of India is quite important. The institution manages approximately 15% of cross-border remittances in India. The bank is largely interested in blockchain, considering this to be the driving force that will destroy the traditions of the technological space and create something uniquely positive. Therefore, it is worthwhile to actively look at crypto technologies right now, studying how they can be effectively used. In this regard, the Federal Bank and is going to apply Ripple.
It is worth noting that Ripple as a whole occupies a rather good position in India. Earlier, senior vice president of the company Ripple Ashish Birla noted that the company has already won at least half of the Indian market. Therefore, the use of Ripple technology by the Federal Bank by the end of the year, obviously, is not the limit in this case.
U.Today experts have estimated the likelihood that Ripple technology will be used in the PagoFX payment service, which will be launched by Santander. It has already been noted that PagoFX can really work on Ripple, but there is no one hundred percent probability of this. So far, experts from U.Today have noted that members of the Ripple community are confident in the application of the technology in the specified payment service. If so, this will be an additional positive point for Ripple, given that PagoFX can be licensed to work in the UK and EU countries.