Ripple foundation has been penetrating into the traditional systems of banks and financial institutions across the globe for quite some time now with their two products xCurrent and xVia.
Ripple foundation on the head with Brad Garlinghouse, the founder and CEO of Ripple, confirmed that the foundation is now counting around 120 banks and financial institutions that have joined Ripple since the first time it was launched as an ICO back in 2015.
Garlinghouse also stated in the meantime that Ripple should add another bank every week by the end of the fourth quarter of 2018, adding that many banks will be using xRapid instead of xCurrent and xVia in 2019.
By far, RippleNet has added around 20 new banks during the course of 2018, so here is the list of some of the most prominent partnerships that the foundation signed in the last 365 days.
Ripple and the List of Bank Partners in 2018
By far, it is said that 11 out of 100 top banks across the globe have joined RippleNet, the network revolving around partners that provide support for Ripple, and as of the most recent events, XRP too.
As more banks are joining RippleNet with “old” partnerships getting a new shape with utilizing and testing xRapid, the only product by the foundation that actually needs XRP, Ripple has gained some prominent partnerships by the beginning of Q4 of the current year.
Ripple and Lian Lian
Back in February 2018, Lian Lian, the Chinese payment company has joined Ripple Net alongside with 100 other banks and financial institutions at the time. Lian Lian, the Chinese payment company, and Ripple have signed an agreement in order for Lian Lian to start using xCurrent, one of the Ripple’s products that don’t require XRP.
That way the bank got the access to end-to-end tracking alongside with fast and cost-effective remittance payments.
Ripple and Credit Agricole
Back at the end of January of 2018, Credit Agricole started to experiment with Ripple’s products in order to enable prompt transactions in Swiss francs from Switzerland to France. Later on, several months ahead, Credit Agricole and Ripple sound an agreement, that way officially starting their partnership.
Ripple and Mercury FX
In Mid-August of 2018, Mercury FX and Ripple announced a mutual agreement in form of a partnership, once Mercury FX revealed their plan to test Ripple technology in China and Mexico.
Ripple and Cuallix Partnership Takes Ripple to UnionPay, Swift and Master Card
Almost two months ago, in August of 2018, Ripple has signed a new partnership with Cuallix, a financial institution that as a consequence brought Ripple to more exposure by adding its remittance payment technology to its existing partners, UnionPay, Swift and Master Card.
Ripple and Retail Saudi Bank
One of the most recent partnerships that Ripple has acquired in the third week of September 2018 has been signed with the National Retail Bank of Saudi Arabia. The bank became one of the latest partners of RippleNet, set to provide cheap and instant global payments with Ripple technology.
Ripple and IndusInd Bank
Back in February of the current year, Ripple Net scored another partnership with a bank, this time signing the deal in New Delhi with a private sector bank called IndusInd Bank, gaining momentum in the growing market in China, India, and Brazil.
Ripple and PNC Bank
Another one of the most prominent Ripple partnerships of 2018 goes to PNC Bank, one of the top 10 banks in the United States of America, which brings Ripple to a broad targeted audience in the US. The partnership was signed approximately two weeks ago in September, which brought Ripple to around 8 million customers that this bank is currently serving.
Ripple and the Combo of Five New Bank Partnerships
Back in April of 2018, Ripple has made quite a flattering score by having been announced the list of five new banks and financial institutions that have joined the network of Ripple supporters in order to provide better payment solutions for global transactions.
At the time, Ripple has added five more banks across Asia and Europe to its existing list of partnerships, signing agreements with Fair FX, Exchange4Free, Rational FX, MoneyMatch, and UniPay, all utilizing xVia for their renewed services.
AS of the most recent case of events, Ripple announced the launching of xRapid to more than several banks and financial institutions that are already using xRapid or are in the process of testing the product for XRP-based payments, which consequently increased the value of XRP in the last couple of weeks.
Moreover, Garlinghouse claims that there will be a great number of banks using xRapid by the end of Q4 of 2018, as well as in 2019.