The Ripple effect: Finablr revenue growth and UAE banks can save about $4 billion a year with XRP

The Ripple effect: Finablr revenue growth and UAE banks can save about $4 billion a year with XRP

Ripple XRP breaks new record at Bitso

Finablr reported an increase in revenue through liquidity on-demand from Ripple, the UAE blockchain INVAO company manager praised XRP, and experts called XRP a practical cryptocurrency.

Finablr Revenue Growth

Ripple-on-demand liquidity technology has increased Finablr’s profit margins. According to City AM, the Finablr payment service reported revenue of $ 182.3 million since the beginning of the year (15.6 percent) and a total increase of 22.1 percent for the year. Despite the fact that Ripple is not explicitly mentioned, as a result of which Finablr achieved such success, it was previously announced that the company uses liquidity on demand.

Therefore, experts from U.Today concluded that the company’s high revenues may be associated with the use of Ripple technology. Liquidity at the request of the company Ripple previously noted a number of experts and activists as something that gives good results. Therefore, it is likely that this Ripple technology really raised Finablr’s revenue.

XRP in the UAE

UAE Blockchain INVAO Managing Director Ahmed Jacob praised Ripple XRP. The specialist gave an interview in which he emphasized the advantages of blockchain for the development of banking. According to him, blockchain can bring significant savings in the main parts of the retail banking business model. Ahmed Jacob cited the Ripple XRP as an example to save money and time.

Ripple XRP, as the representative of Blockchain INVAO noted, is good in that it takes about 3.6 seconds to calculate a transaction. On the other hand, transactions through the traditional banking system can take several days. Thus, Ripple XRP significantly saves money. According to the management consulting firm McKinsey one could save about $4 billion per year when blockchain is applied to cross-border payments.

Practical cryptocurrency

Experts from Asia Crypto today called Ripple XRP the most practical cryptocurrency. In their review of Ripple XRP, experts noted that this is why so many consumers believe in a digital asset. The speed of settlements, according to experts, makes Ripple XRP a “fantastic token” for financial institutions. Moreover, the Ripple XRP ecosystem is open source, and this provides additional and very significant benefits.

About Viktor Sokolov 163 Articles
Nerd, entrepreneur & coffee aficionado. Believes that blockchain infrastructure and bitcoin will be the money system of the coming decades. Trying to make visible what this means for technology, economy, companies and societies.

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