Ripple with Financial Products are Getting Popular Among Indian Banks

Ripple with Financial Products are Getting Popular Among Indian Banks

Mumbai has become the home of Ripple Inc. From here they could serve the needs of their customers to ensure smooth operations. Recently it is been noticed that Ripple products are getting popular among the commercial banks in India. Products like RippleNet, xCurrent, and xRapid are getting popular.

According to the reports banks like Axis Bank, YES Bank, Kotak Mahindra Bank, and many others have come in partnership with Ripple.

These products offered by Ripples happens to be a blockchain solution for financial institutions which will speed up internal financial transactions within the bank and also help out with interbank transactions.

To all banking and non-banking institutions across the country, It has provided products that have been confirmed to provide adequate and also instantaneous means of making financial transactions for their customers locally and internationally.

One of the partnered banks said,

“They are committed to building our presence in this market with significant investment, and I look forward to expanding our local team with this vision.”

Though the platform, Ripple, has been a top choice, the XRP, which is the native cryptocurrency for the Ripple network has been going through a tough time in the market among many others.

Cryptocurrencies, in general, has been in a bear market, with Bitcoin pushing downward by the day, breaking support lines to set new record lows for the year.

Ripple, which at the beginning of the year had made new heights, touching $3.52 at some point had fallen -80.32% since the beginning of 2018.

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