In its August review, The International Monetary Fund has lauded Ripple’s payment solutions which has raised the question about Ripple competing with established payment solutions.
In the full review, the international outfit said it focused closely on firms using technological initiatives to enhance payment solutions. Given that, it has noted one key player that has made waves in recent years, raising huge speculations of Ripple competing with IMF.
Some of the new payment platforms are seriously battling it out by competing with traditional payment methods that banks only provide.
Noting a key example, IMF said RippleNet has every key feature to provide a payments platform.
IMF August report says Ripple competing with established payment solutions
The International Monetary Fund talked about three key projects that have revolutionized payment structures while challenging most traditional payment solutions.
The IMF made mention of Ripple alongside a host of other payment platforms, including Facebook Calibra. The new firms are making use of their unique payment ways that differentiate it from firms like PayPal.
With news of Ripple competing with established payment solutions, it is no news that the majority of the population is switching to payments via the digital assets company. Experts have lauded a clear and straightforward guideline as to the main reason why the crypto-related payments solutions has received so much patronage.
Ripple CEO wants regulators to embrace crypto payment solutions.
According to an analyst, RippleNet was designed to be a payment system that has no condition attached to it, unlike traditional banks that would make you satisfy certain requirements.
Recently, Brad Garlinghouse, Ripple CEO, took to Twitter to announce that he was going to speak at the crypto town hall inaugural meeting, which would have Tom Emmer in attendance. In his tweet, he urged American regulators to look at various crypto payment solutions.
Even though 2020 has not gone the way we hoped, we need to give a thought to payments via crypto in the coming months. His speech might have something to do with the rumors of Ripple competing with IMF that is making the rounds.