Cost-effective cross border payments using XRP and RippleNet’s On-Demand Liquidity Service. Bitso by their partnership with Ripple are delivering great services to Mexican Businesses and Retail Customers. They are helping solve the many difficulties in sending money outside Mexico.
Bitso are doing their best to boost financial access for Latin America’s large underbanked population with their partnership with Ripple. Bitso are already the largest exchange in Latin America. They reportedly have the largest liquidity of Mexican pesos to digital assets.
Using traditional methods, every time it becomes necessary to pay a global supplier it gets difficult and expensive. The problem of money transfer is even difficult for retail customers. Families whose rent, groceries and educational costs depend on remittances from relatives working abroad can be met effectively with RippleNet’s services.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Ripple facilitating ODL, which helps convert USD in to digital assets (XRP) in less than a minute. The transactions are amazingly cost effective.“
Ripple remittance markets are expanding to several new corridors. It is going to be a boon to migrant families.
Brad Garlinghouse tweeted: “Never a dull moment in crypto! Institutional investor interest is skyrocketing… industry growth comes down to real world utility. As a store of value, BTC is an extremely useful inflation hedge. XRP’s speed, cost and scalability make it extremely useful for payments.”
In terms of XRP price, it is possible to see XRP climbing up and going all parabolic; however, a correction is expected to be on the cards. Another fact to be notices is that investors are only interested in the high priced crypto and they are not bothered about the pros and cons of a token and therefore some kind of strategy should be in place to ensure XRP keeps increasing in value.
Despite the percentage improvement in price, some investors feel that XRP price is useless for investors for all practical reasons now. It needs to go high multifold for it to be useful for investors.
Ripple (XRP) Changing Times
Ripple supporters feel that we will need XRP as governments are going to keep everybody locked down forever and that the brick and mortar banks will have no purpose anymore. This can be too much of an exaggeration, but we do not know because we are living in changing times.
It will take lot of time for regulators to recognize the potential of these technologies. And, it will take a lot of time before they can facilitate a level playing field for industry participants.