The world Bank in January announced information that remittances in the world in 2018 should increase by 3.4% in absolute terms, it is 466 billion dollars more than in 2018. The key financial flows in the years 2015-2017 formed in India and China, and this trend will certainly continue given the large population and high level of business activity in the financial sector of these countries. However, even the leaders are much inferior to the bloc of developing countries, which accounted for 60% of the total global flow of remittances, and Bank charges.
In such conditions and with such volumes, developing countries are interested to access “easy” transactions. As practice shows, the optimal solution can provide RippleNet. The Ripple team is constantly expanding its geography and adds to the list of companies employees. And new clients, as we wrote earlier, two of the Bank:
- “Itau Unibanco”, largest Bank in private sector of Brazil and the largest by market capitalization in Latin America;
- “IndusInd”, a leading Bank of the private sector in India;
and 3 payments provider, one of them “InstaReM”, a major supplier of money transfer in Singapore.
New technology provided by Ripple allows you to use the payment corridors for users from around the world. Two providers will be ready to install the Chinese users.
“The problem of payments – global, but its negative impact is the disproportionate pressure on emerging markets,” said Patrick Griffin, head of business development, Ripple. — “You need to connect the financial institutions of the world to the payment system that works for its customers, not against them.”
Technology RippleNet have already proven their advantage and performance in the real banking sector, especially in international transactions. Therefore, the prospects for development is quite predictable. The only thing that is not reflected significantly on the value of XRP. But it is likely that with the further development of technological solutions and their Ripple integration, coin XRP will grow in value.
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