SBI, Coinbase, and Bill Clinton shake hands with Ripple (XRP): Bulls coming?
State Bank of India and Ripple
Ripple has been rolling out partnerships left and right. It has been aggressively pushing for the adoption of its fund transfer solution – xCurrent and xRapid. According to The Financial Analyst news website – State Bank of India is considering to use Ripple financial solutions to reduce the time and fees for cross-border remittance which will allow families to enjoy more money rather than burning it on expensive fees.
India is welcoming Ripple solutions with wide open arms. In 2017, Ripple (XRP) had opened an office in India to work on partnerships, exclusively. This shows that Ripple sees a big opportunity in India’s growing economy. Kotak Mahindra Bank announced that it intends to add its 1,300 branches on RippleNet. Not long before major corporations in India start using Ripple technology to make things faster.
Ripple’s CEO, Brad Garlinghouse commented on his company’s activities in India:
“Improving remittances services into and out of India means less fees and more money for families who rely on those funds that are sent home…
This trend is increasing across payment providers and banks inside and outside of the country — further underscoring the mounting opportunity in remittances to India from around the world.”
Coinbase and Ripple
Coinbase, the San Francisco based cryptocurrency exchange that offers storage services to top four cryptocurrencies of the world announced its plans to store 37 more cryptocurrency assets and Ripple (XRP) is one of them. Other crypto assets include Cardano, ZCash, Stellar, VeChain, Bitcoin Gold, SiaCoin, Dogecoin, NEO, Dash, Monero, and many others. This gives investors hope that the exchange may soon enable trading of these assets. It is crucial to keep in mind that this addition of crypto assets to Coinbase Custody service does not mean that these assets will be added to all other products. Instead, the assets being added to Custody Service may have to pass the GDAX Digital Asset Framework.
Coinbase Custody Service was launched on July 2, 2018 with an objective to address the security concern of institutional investors. It uses various security measures like On Chain Segregation, offline, multi-sig, and geographically distributed transaction protection.
Bill Clinton and Ripple
On July 31, Ripple (XRP) announced that Bill Clinton will be the keynote speaker for its upcoming Swell conference. The Swell conference will connect “the world’s leading experts on policy, payments, and technology for the most provocative dialog in global payments today,” according to its website.
According to Ripple’s announcement, Clinton was chosen because of his contributions to the growth and mass adoption of the Internet, which helped shape the web we know today, as well as his efforts to bridge the digital divide by putting computers in undeserved communities’ schools and libraries. It is only fitting that the person responsible for spreading the use case of the Internet be the keynote speaker for the conference. Though, Clinton’s field of work in the late 90s wasn’t even close to cryptocurrencies and blockchain which perplexes a lot of people, even Vitalik Buterin.
— Vitalik Non-giver of Ether (@VitalikButerin) July 31, 2018
Ashton Kutcher donated $4 million worth of XRP to the Ellen DeGeneres Wildlife Fund on her television show, and Snoop Dog performed at an afterparty for the Ripple-sponsored Consensus 2018 event. These partnerships with celebrities and rappers scream one thing very loudly – Ripple is exploring avenues to bring its name and brand to people who are not so well-versed with cryptocurrency and blockchain. What’s the best way to get people’s attention? If you ask Ripple, they’ll say to have a president be the keynote speaker for your conference.
Despite rolling out new partnerships and shaking hands with celebrities, rappers and presidents, XRP is yet to cross the $.5 mark. It is surprising to see that positive news for the company is not so positive for the investors.
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