big news imf xrp partner xrp to 65 000 the international banking alliance uses the ripple
blockchain network technology to increase the efficiency of cross-border payments
banks in canada and israel have signed an agreement with national australia bank nab
australia's largest commercial bank to improve the security and efficiency of their payment systems
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the ripple payment network works with global financial institutions from more than 55 countries
their on-demand liquidity service odl uses the xrp digital asset to obtain liquidity during
cross-border transactions as an alternative to traditional systems canadian imperial bank of
commerce cibc and israeli bank lumi recognized small business banks now use the ripple payment
network for cross-border transactions as a result of their alliance with the national
bank of australia the partnership aims to improve the quality of customer service by reducing costs
speeding up payment services and improving security it is reported that transactions
which could take up to two days to take effect can now be completed within a few minutes we
believe that this technology can not only make international payments in real time
but also improve the security and efficiency of our payment systems so this is an important part
of the work the national bank of australia nab said a major australian bank said
we are pleased to work with cibc and have already collaborated with them in using ripple blockchain
technology to make international payment transfers between our banks as a proof of concept
the alliance of financial institutions is also expected to open new doors for everyone to access
first-class international innovative initiatives and ideas nab labs executive ceo jonathan davey
said in an official statement from the bank our clients want us to do things differently and this
strategic partnership allows us to gain access to the ideas talents and capabilities of like-minded
organizations in this case the opportunity to connect with two leading international banks
to help us get world-class information from world leaders for the benefit of our customers
the general manager added that this is an opportunity for institutions to develop
solutions to common problems as well as to combine and use global knowledge and ideas
to find ways to get ahead in the competitive and rapidly changing world of fintech
despite the sec lawsuit against ripple labs the company is strengthening its reputation abroad and
maintains several international partnerships the ripple network is becoming popular in australia
this is recognized by financial companies and the company's members are working together with the
authorities of the country developing a regulatory framework for cryptocurrencies last year the
company proposed three principles on which the australian regulatory framework for digital assets
should be based this was included and credited in the final report of the senate of australia
special committee on australia as a technology and financial center according to ripple net ceo
ashish burla the company ended 2021 with over 10 billion dollars in payments and expanded
its on-demand liquidity product odl to 22 target markets he noted that the odl product is close to
achieving global reach berla believes that the rapid growth is due to the higher transaction
speed and more efficient use of capital of odl in contrast to the traditional financial system
at least 38 of the world's 100 largest banks have tested integrated or invested in ripples
cross-border payment technology according to xrp arcade the largest of them is the japanese
holding mitsubishi ufj financial group whose assets total more than two dollars five trillion
the partners of the blockchain startup are also the uk's largest financial conglomerate
hsbc holdings plc is linked to ripple through sabb bank bank of america cooperating through
merrill lynch investment bank french financial conglomerate credit agricole as a client the xrp
arcade report emphasizes that in reality there may be more ripple partner banks the reason for this
is the connection of companies with a blockchain startup through third-party organizations
on january 14th heath tarbert chairman of the u.s commodity futures trading commission
cftc said that he does not consider the xrp cryptocurrency a security according to him the
status of ripple tokens remains uncertain when bitcoin and ethereum are definitely commodities
brad garlinghouse recently posted a tweet by the head of the eu central bank
christine lagarde on his page which led to a new wave of rumors about the close relationship
between ripple and central banks around the world in this tweet legard made three demands i enjoyed
marking la rontree with ursula at van der lan and commissioners here at ecb we see a twin challenge
shoring up our economies for the short run and planning for the future economy
next generation eu provides a bridge between them one half https colon slash slash t
co slash qrfrx 58 scp in this tweet legard noted that the eu economy needs accelerated transition
to digital technologies climate protection is a priority the created union of banks and capital
markets with the support of advanced payment systems this tweet caused a massive response
in the xrp community as people found ripplenet and xrp to be the best solution to these issues
ripple's top manager marcus treacher recently stated that the multinational payments market
is on the verge of transformation however iso standardization and the way ripplenet solves
the problem through innovation helps redefine transnational payments according to tracker what
blockchain and virtual assets like xrp offer could potentially turn into a better payment
solution than anything on the market today he also stated that ripple intends to eliminate
friction with international payments and make sure that cash moves around the world as easily as it
currently does cooperation with banks and payment operators brings the company closer to this goal
in addition the tracker added that ripple net uses the iso 2022 standard which also helps to improve
the situation as we reported earlier marcus treacher stated that at the end of this year
ripple intends to open several more odl corridors for transferring funds using xrp in the apac
and emea regions meanwhile ripple's main partner moneygram is already entering the mass money
transfer market in east africa the company does this by joining forces with uganda's largest
commercial bank centenary bank the potential local market is estimated at about one dollar
five billion ripple owns about half of all issued x rp which it uses for investment projects in
charitable organizations and also sells them to financial institutions however ripple recently
announced its intention to slow down xrp sales other odl ripple corridors created together
with the money transfer giant moneygram are located in mexico australia and the philippines
the live xrp price today is zero dollars 88 us dollars with a 24-hour trading volume of 3 billion
740 million us dollars we update our xrp to usd price in real time xrp is down zero four percent
in the last 24 hours do you think xrp will be able to win the court and restore its former price
write the answers in the comments that's it for today thank you for watching this
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