Ripple, the company behind XRP, announced that it added 13 new financial institutions to the list of RippleNet users. With that, Ripple now has over 200 global customers with 8 if them using XRP.
Ripple published an article on the company website to announce and celebrate the addition of 13 new financial institutions that started using RippleNet. Ripple now has over 200 global customers and RippleNet currently operates in 40 countries across 6 continents.
The 13 new financial institutions are:
- Euro Exim Bank
- Ahli Bank of Kuwait
- BFC Bahrain
- WorldCom Finance
- Olympia Trust Company
An interesting question, of course, is how many out of the 13 new partners are going to use the RippleNet solution that involves the token XRP(xRapid). Since the launch of xRapid, a liquidity solution for banks that uses Ripple’s XRP as a bridge currency, only 3 Ripple partners are using the new technology.
According to the article, out of the 13 financial institutions, 5 are using XRP to source instant liquidity for their cross border payments. The 5 financial institutions are:
- Euro Exim Bank
The total amount of Ripple clients that use xRapid and, therefore, also the token XRP, will now be 8. As announced by Ripple in October after the Swell Event, Mercury FX, Cuallix and Catalyst Corporate Federal Credit Union were already using xRapid.
It is good to see that Ripple managed to get more institutions to use xRapid. In June last year, Brad Garlinghouse said that over a dozen banks will be using XRP by 2019.
“By the end of this year , major banks will use xRapid as a liquidity tool. By the end of next year , I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity.”