$ 29,254.00 3.25%
$ 1,987.39 2.35%
$ 49.73 5.01%
$ 0.084215 2.23%
$ 7.86 1.79%
$ 1.39 0.72%
$ 0.000161 21.52%

Ripple’s xCurrent is now being tested by banks in Latin America

ripple xrp price review 1 week 17 june

After Ripple‘s entrance in the Brazilian markets, several banks such as Banesco Panama and Scotiabank Chile have committed to testing out the company’s xCurrent platform in order to move capital.

Both of the banks are participants in Ripple’s new initiative to cover the whole Latin American market for providing blockchain-based services in the payment systems.

According to reports, all parties involved are maintaining a close relationship with local regulators in order to ensure the test’s legality in all jurisdictions of the region.

Should the testing phase go smoothly, Ripple will have the opportunity to cover countries like Puerto Rico, Spain, Portugal, the Dominican Republic and Panama thanks to Banesco’s presence in these countries.

After the testing has been confirmed, Banesco will start offering blockchain-based transactions to the project partners as a start, because exchange rates are still in the process of being agreed upon.

Since XRP is very responsive to the company’s partnerships, it was assumed that such a large test would affect the price. However, the banks didn’t commit to using the cryptocurrency and stuck with the xCurrent instead.

Furthermore, the XRP was already stuck in the BTC craze, therefore any major consolidation can be assigned to the market sentiment rather than this sole project, regardless of how large it is.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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