Ripple adds another financial institution to its ever-growing list using its technology
- UK-based company Currencies Direct are the latest to join Ripple’s growing list of institutions utilizing its technology.
- XRP/USD flirting with the big $0.3000 in late trading on Tuesday, price remains vulnerable for now.
Currencies Direct Ltd a UK-based foreign exchange broker and international payment provider, are another organisation to utilize Ripple’s technology. They are set to open a new real-time cross-border remittance corridor to India, leveraging Ripple's xCurrent.
The use of xCurrent allows banks and financial institutions to message each other, which would be in real time, to confirm the payment details. This coming before they initiate a transaction, to then confirm delivery once it has settled.
Currencies Direct CIO said, “Our partnership with Ripple showcases the future of international payments and how technology can greatly improve the customer experience. When you think about the vast volumes of money that are being transferred around the world and to India specifically, it’s only right that customers have the ability to check the status of their funds at every stage”.
In the latter stages of trading on Tuesday, XRP/USD was seen nursing losses of just over 1%, flirting with the $0.3000 at the time of writing.
See the latest technical analysis reported earlier.
XRP/USD daily chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
