With 14 new banks and financial institutions, the RippleNet network is now on the verge of becoming an industry leader.
“Among general audiences, they will still think that blockchain is the same as Bitcoin. But honestly what we see among banks and financial institutions that we are working with – and we have signed up with 14 in the past few weeks – is a decoupling of the concept of crypto assets and what the underlying technology can bring.
It very much depends on how you define blockchain. If you’re talking about speculation around Bitcoin and individual use cases, then people will probably laugh at the idea because it is still not clear. But if you’re really talking about cross-border payments, Ripple is leading in the space because of the approach that we have taken. We haven’t limited ourselves to the crypto use case, and that has helped banks and financial institutions embrace the technology.”
In a recent report, Ripple announced they on an average, they are adding up to 3 financial institutions per week. Within the same report, they mentioned the transactions for the first quarter of 2019 have been more than all the transactions for 2018 alone. There’s no official list with all the companies and institutions that have signed up with RippleNet yet, although Ripple shared they exceed 200 at the end of 2018.