Altcoins News
By Maheen Hernandez
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RippleNet Payout in 40+ Currencies
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Ripple Partners with Egyptian Bank
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Marcus Treacher, SVP Customer Success, Ripple stated, "The industry will experience further consolidation – in crypto, fintech, and even traditional banking.
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A month ago, Brad Garlinghouse tweeted: “Not surprising to see this kind of consolidation, and expect this will set the stage for more to come in 2020 - in fintech, crypto…
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The XRP community considers this to be a hint of more of newer acquisitions set to happen this year in 2020.
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Sydney Ifergan, the Crypto Expert, tweeted: "Big Heads from Ripple XRP are talking about consolidation, shuttering and acquiring.
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Of note, Garlinghouse previously stated that the world does not need 3000 cryptocurrencies and that the industry should be expecting to see a migration to quality during 2020.
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The RippleNet provides payout capabilities in nearly 40+ currencies. On-Demand Liquidity is supplied as a significant alternative to pre-funding.
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Several significant businesses like on Ripple. American Express, MoneyGram, PNC, Santander, SBIRemit are a few to name.
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American Express, one of the partners of Ripple, is working on getting a license from the Chinese Central Bank (PBOC) to use Ripple's technology to make instant payments.
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Alex Holmes, MoneyGram’s CEO, stated, "With the launch of the new FastSend service, sending money is now as easy as sending a text.
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Using the new feature facilitated by FastSend, MoneyGram customers will be able to send money and perform fast and secure transactions directly to the recipient's phone numbers.
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Of note, Money Gram made a strategic partnership with Ripple in 2019 and obtained two portions of investment from it.
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NBE, the most significant Egyptian bank, will be the first banking institution, which will leverage the blockchain technology.
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RippleNet has more than 300 financial institutions, and it is expected to "grow exponentially" for the future.
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