Ripple is definitely one of the most widely recognized leaders of the payment sector including both domestic and cross-border payments. Having entered the industry comparatively not so long ago, it has managed to become a serious competitor to such strong players of the market as Swift, for example.
The company offers its innovative solutions that use the blockchain technology and XRP cryptocurrency to ensure low-cost and fast global transactions between Ripple’s clients. More and more participants from different corners of the world are joining the RippleNet.
If earlier the participants of the network used to be small companies and neo banks, now even the major countries’ banks have started to express interest in the application of Ripple’s tools and some of the large traditional banks have already implemented them.
The leading financial companies as well as cryptocurrency-related firms, as for example, global currency exchange MercuryFX, believe in the capacities of Ripple’s products. Moreover, a number of experts predict a very bright future for XRP. The head of Japanese SBI Holdings strongly believes that thanks to its use cases that are ensured by Ripple’s technology, XRP will become the major world’s crypto surpassing Bitcoin in the nearest future.
Gareth Wilson’s Predictions for 2019
After Gareth Wilson, the managing director of global payments at Accenture, released his predictions for 2019 for the crypto and financial world, it has become known that he is one of those who actively support Ripple and strategy. According to him, this year Ripple can expect major gains as its network will be actively expanding around the world welcoming new banks and financial institutions.
“Although most banks will still shun Bitcoin, expect to see cash management products appear that use Bitcoin and Ethereum, and are aimed at corporate treasurers. […] Ripple’s network for cross-border transactions will continue to grow significantly, attracting more banks and corporates, leading to rising transaction volumes.”
He also predicted that more firms would enter in a partnership with Ripple not only with a view to get connected to its wide network but also to get access to the xRapid product that utilizes XRP with a view to source liquidity on-demand.
Wilson also commented the tendency among central banks to issue their own digital currencies. He noted that there can be positive and negative aspects of this trend, nevertheless, banks should have a clear vision of how they are going to use their digital assets.
According to the head of global payments at Accenture, in the nearest future, some financial companies and banks will implement biometrics tools to enhance the client experience and ensure a higher level of security. The same tools can be applied by crypto wallets providers.
As Wilson mentioned a lot of great opportunities for Ripple and XRP to grow, let us also remind that XRP has been recently added to the Coinbase Pro trading platform operated by Coinbase which is a milestone for the coin. Such a move has had a very positive impact on the coin’s price which has increased by nearly 6 percent within the last 24 hours.