The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ripple Signing New Clients at Record Pace Thanks to Facebook’s Libra

by Daily Hodl Staff
June 20, 2019
in Altcoins

Ripple CEO Brad Garlinghouse says he owes a debt of gratitude to Facebook’s head of blockchain, David Marcus.

At Fortune’s Brainstorm Finance conference in New York, Garlinghouse said the San Francisco startup is on pace for a record week after the announcement of Facebook’s digital asset Libra.

“I’m going to send a case of champagne to David Marcus, the guy who runs Libra. The reason is, this week will probably be the best week of signed contracts at Ripple ever. It has been a massive call to action because Facebook kind of came out and said we don’t need Western Union anymore…

And I think the banks realize that if Facebook is going to be a competitor in this space, they can’t depend upon a technology like Swift to compete in the marketplace.”

As for Ripple’s new partnership with money transfer giant MoneyGram, Garlinghouse says it’s an example of a need for solutions like the XRP-based cross-border payment product xRapid which MoneyGram CEO calls “dynamic”.

“What xRapid allows is for me to shuttle value in real time from, say, British pound to Philippine peso, and I don’t have to pre-fund into the Philippine peso…

The xRapid product we’ve now had in market for about eight months. We’ve announced about 10 to 15 production customers taking advantage of that product. For a Silicon Valley to be able to go from launch of a new product to 10 to 15 customers, I’m pretty thrilled. I think for a lot of banks that have a lot of liquidity parked around the world, they’re evaluating what that means.

I was talking to the CEO of one of the largest banks in Canada, and they were exiting their correspondent relationship in Brazil. It’s expensive for them to hold Brazilian reals. And they’re like, look, we don’t have enough demand, so now we’re going to use a correspondent bank. Now if they could use xRapid into Brazil, they don’t have to have the pre-funded money. They don’t have the expense and they can still solve their customer’s problem that needs to do business in Brazil.”

When it comes to the crypto and blockchain space as a whole, Garlinghouse says he thinks multiple coins and blockchain companies will thrive in the long run, and he remains long on Bitcoin.

“I don’t think there’s going to be one crypto to rule them all. I own Bitcoin. I’m long Bitcoin. I think Bitcoin is a store of value and people hold it. And so I don’t think there’s going to be just one use case. We think about XRP as an incredibly efficient shuttler, a bridge currency if you will, because it’s extremely fast. In contrast to even Bitcoin, for example, we can do a transaction for about six ten-thousandths of a cent. A Bitcoin transaction today costs about $2.30 per transaction.

That doesn’t mean Bitcoin is going to fail or something. I think Bitcoin and XRP – I don’t view them as competitive. XRP is extremely efficient for that payments problem we’re solving. And Bitcoin as a store of value, digital gold, as you heard from Barry Silbert up here yesterday. Today gold is worth many trillions of dollars and Bitcoin is worth around $200 billion.”

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Blockchain Pioneer Acquires International Fashion House Blk DNM
    June 7, 2023
  • WOW EARN Launches Its Crypto Wallet on iOS and Google Play
    June 7, 2023
  • BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse
    June 7, 2023
  • The Importance of Crypto Payments in 2023
    June 7, 2023
  • Proof of Talk 2023 – Two Days To Restore Trust in Web 3.0 and Design the Future of the Industry
    June 7, 2023
  • OKX Partners With Komainu, Enabling 24/7 Secure Trading of Segregated Assets Under Custody for Institutions
    June 6, 2023
  • Mooky.io – $750,000 Raised Within a Matter of Days
    June 5, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,394.07
$26,394.07
0.21%
Ethereum
$1,839.53
$1,839.53
0.51%
Cardano
$0.326754
$0.326754
3.2%
XRP
$0.519711
$0.519711
0.85%
Dogecoin
$0.067636
$0.067636
0.33%

Spotlight

  • Popular Crypto Analyst Issues Major Bitcoin Alert, Says BTC Ripe for a ‘Flush Down’ – Here’s Why
    June 1, 2023
  • Is XRP About To Rally? Crypto Analytics Firm Santiment Says One Metric Is Flashing a Historically Bullish Signal
    June 1, 2023
  • Top Trader Says Ethereum on Cusp of Breakout Against Bitcoin, Predicts One Surging Altcoin Has More Fuel in Tank
    June 1, 2023
  • Brian Armstrong Issues Warning on China, Says US Putting National Security at Risk With Anti-Crypto Climate
    June 1, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl