Ripple attains new milestones in the payments industry – details

November 08, 2023 04:24 AM PST | By Invezz

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Ripple attains new milestones in the payments industry – details — Image source: Invezz

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The remittance company Ripple made various announcements during its yearly conference, Swell. The crypto firm revealed its Ripple Payments product, representing a step deeper into the digital payment sector.

Introducing Ripple Payments—the next evolution of Ripple’s payments product delivering a licensed end-to-end solution for FIs and SMEs with 70+ payout markets, expanded crypto liquidity options, integration with the XRP Ledger DEX, and much more.https://t.co/khOxtCnXin
— Ripple (@Ripple) November 8, 2023

Ripple Payments promises certified payment solutions for institutions with 70+ payout markets, increased cryptocurrency liquidity options, and more.

According to the announcement, Ripple has obtained money transmitter certificates in Singapore and various jurisdictions in the United States. The licenses have allowed the company to expand its payment offerings in 70+ payout markets.

Ripple’s international payments platform will allow customers to access global payout coverage. That improves XRPLedger use cases, potentially increasing demand for XRP coins. The firm’s Head of Payment Products, Brendan Berry, stated,

“With more businesses than ever seeing real utility in blockchain, our goal is to provide our customers with optionality, speed, ease of use, and compliance, all in one comprehensive product.”

Moreover, Ripple partners continue to support the company’s initiative to offer its remittance services worldwide. The company announced that Onafriq will use its crypto transaction technology to launch new payment corridors between Africa and other regions globally.

These developments will likely boost XRP’s price recoveries, considering the increasing utility.

XRP price outlook

XRP price hovered at $0.6947 at press time, following a 1.59% 24-hour uptick. It maintained an upside stance over the previous week, gaining 15.30% within the last seven days.

Ripple’s token seems poised for extended uptrends in the longer term, considering positive ecosystem developments and the broad market outlook.

The post Ripple attains new milestones in the payments industry – details appeared first on Invezz

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