Ripple Labs Cracks U. S. Banking with New Deal
Ripple Labs made huge waves today, signing the first two U. S. banks to an agreement to use their open-source payment protocol. Two U. S. banks, Cross River Bank in New Jersey and Kansas-based CBW Bank, proclaim their utilization of the Ripple currency protocol. This makes way for an instant transfer system with international transfers at no charge on Ripple's network. "It's a big milestone," said Ripple Labs Chief, Chris Larsen. "We've been working on our enterprise banking strategy for well over a year. It takes quite a while for banks to get going." Ripple's Transaction Protocol (RTXP)....
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Photo by _Mo. The XRP price has trended upward over the past few months, which vaulted Ripple up the market cap charts (XRP is the Ripple platform's native currency). Thus far, the XRP price has avoided entering a cooling-off period. It may be time to certify Ripple as cryptocurrency's #2, at least by market cap. Also Read: Ripple Labs Cracks U. S. Banking with New Deal. XRP Price Rise Solidifies Ripple as Crypto's #2. In late September, Ripple passed Litecoin for 2nd-place on the cryptocurrency market cap charts. Since then, Ripple has widened the gap between the two cryptocurrencies to....
Ripple. Ripple is a protocol designed to increase the speed and reduce the costs of international monetary transfers. To protect the network, Ripple users must hold a small amount of the platform's native currency, known as XRP. In addition to preventing abuse and securing the network, XRP serves as a bridge currency between any other currency within Ripple. Recently, the XRP price has surged-doubling its USD value in November alone. Ripple breached the 1 billion USD market cap range, but has since been dumped back to lower levels. Also read: Ripple Labs Cracks U. S. Banking with New Deal.....
Ripple Labs, the company that was expected to offer a stiff competition to Bitcoin with its Ripple (XRP) digital currency and Ripple Protocol seems to have fallen behind. Thanks to the recent crackdown by US Financial Crimes Enforcement Network (FinCEN) where Ripple was slapped with a $700,000 fine for non-compliance of regulations while operating as a money services business and selling its virtual currency. FinCEN had found that the parent company of Ripple Labs - XRP II, LLC had willfully violated the Banking Secrecy Act by not implementing effective Anti-Money Laundering (AML) program.....
Ripple Labs, the company behind the Ripple protocol and the Codius smart contract platform, is close to finalizing the deal on a new $30 Million USD funding round. Wall Street Journal's Venture Capital blog reports that it has received confirmation from Ripple labs that it is working on closing the deal for its Series B funding round. According to their analysis, the deal would give Ripple Labs (RL) a post-money valuation of $100 million. This valuation stands in contrast to the apparent market valuation of XRP, the token which fuels the Ripple protocol. The company's primary value comes....
The R3CEV banking consortium could be partnering with Ripple Labs, according to a tweet from Ripple Labs CEO Chris Larsen. “The future of fintech is bringing together like-minded companies, like @R3CEV and @Ripple. More details to come soon…,” Larsen tweeted. R3CEV Explores Ripple. Jo Lang, R3 research director, wrote a white paper on considerations for Ripple adoption by large financial institutions one year ago. Lang noted that Ripple has focused on partnership versus competing with existing financial institutions seeking to gain efficiencies and improve transaction processes. R3....