Despite the 5-7% slump noticed on the cryptocurrency market last week, Ripple kept its position and investor interest steady, announcing partnerships in India, Kuwait and with a UK FX Brokerage.

Following Ripple’s success with Western Union, now Currencies Direct, a UK-based FX brokerage, offers its customers fast international transactions empowered by Ripple’s product – xRapid. Payments to the USA, Europe, and Mexico are completed in seconds, using XRP as the primary currency, compared to the 5-day period needed for fiat money.

The product is a game-changer to the financial industry, based on three key characteristics that outperform traditional payments - speed, reliability, and transparency, which are unbeatable by standard cash transfers.

Brian Harris, xRapid’s Product Chief, stated that Ripple continues to explore new opportunities in the future development and enhancement of the product.

Alongside Currencies Direct, Ripple also announced the partnership with Kuwait National Bank (KNB) with the implementation of the xCurrent product. The bank’s international transactions are now faster and safer thanks to the blockchain-based solution.   

This is a significant breakthrough in Kuwait’s money transfer system, as this is the first bank, which uses Ripple’s product, following the country’s pioneer Kuwait Financial House (KFH).

Ripple’s last partnership stop is India, where the cryptocurrency is now traded on the country’s largest crypto exchange market - Coinome, featuring the XRP/INR and the XRP/BTC trading pairs.

The Indian market can access Ripple tokens faster, safer, and easier. The size of the market is expected to boost the overall volume of the coin on the exchange landscape.  

Businesses and investors in Mumbai and New Delphi are actively buying Ripple tokens or using the RippleNet products to complete money transfers. The XRP and leading cryptocurrencies are likely to upstage traditional currencies like the Ruppes and Dollars in the future.

Sharma Laesh, Vice President of India’s National Bank, showed his affinity for Ripple and the RippleNet, saying: “India has yet to become a crypto-nation. A lot of misused potentials will be soon put to cryptos and maybe 5-10 years from now we will have our first businesses paying their employees with Ripple, Bitcoin or Bitcoin Cash”.  

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