Bitcoin
$ 29,148.00 4.07%
Ethereum
$ 1,974.74 3.64%
Solana
$ 49.16 6.97%
Dogecoin
$ 0.083401 3.65%
ApeCoin
$ 7.74 3.58%
STEPN
$ 1.37 3.84%
Terra
$ 0.000159 17.42%

Ripple partners with fifth largest ASEAN bank post Coinbase Custody

ripple partners with cimb bank malaysia

Ripple (XRP) is getting bigger and better each passing day and the chief’s claims to be the best cryptocurrency in the current year seems to be based on the truth that isn’t evident to everyone.

Having said that, XRP partnership with Malaysia based CIMB Bank is the latest in the wave of various developments. Beside various claims by the chief to the currency salient ones include inclusion on Coinbase Custody platform.

How big is CIMB?

The bank is among the top five banks in the ASEAN network which means it holds the position among all Southeast Asia. The bank spreads to fifteen countries operating with over eight hundred branches and more than thirteen million customers.

The chief of the group Zafrul Aziz expressed his belief in XRP as a future technology. He added that the blockchain based solution would help the bank stay ahead in providing swifter, smoother and more secure international transactions.

CIMB is operating in a region where the slow transaction is a common thing, and this move would allow the bank to increase their customer base leaving the competition behind.

What does the partnership mean for Ripple?

Beside the obvious reach into fifteen countries and over thirteen million customers the partnership is especially essential for XRP portfolio.

XRP has just been approved for the custody platform offered by Coinbase. The platform targets big fish such as wall street traders, and the speedy solution would allow XRP to stay ahead of the competition listed alongside XRP.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Ethereum wipes out $8.10B while eagerly awaiting 'The Merge'
Michael Saylor says market crash will benefit Bitcoin
Crypto exchanges are relisting LUNA after the crash
Terra admits to facing technical issues in resuming LUNA and UST transfer 
RoboApe could be valued over Dogecoin and other crypto-memes.

Follow Us

Industry News

eBay jumps into declining NFT business with Wayne Gretzky's help
Crypto crowd’s shocking prominence in Davos
Balenciaga U.S. stores to accept BTC and ETH starting June 2022
BTC Pizza Day is celebrated amid crypto crash
CV VC launches Africa-focused blockchain fund