XRP is the third most valuable cryptocurrency after encryption giants Bitcoin and Ethereum. It has recently been approved by the United States to make remittances.
In particular, the Consumer Financial Protection Agency allows Ripple to make cross-border remittances. According to a report issued by the bureau, they have been studying the new development of the remittance market and are closely following the trends related to digital currency.
The recognition of XRP currency in the remittance industry is a good omen, indicating that more government agencies are aware of the growth and value of cryptocurrency, thus providing more credibility and confidence for the entire cryptocurrency and blockchain industry.
According to a recent report issued by the Radio Communication Bureau, they said that the Radio Communication Bureau will continue to monitor “the growth and expansion of partnerships of virtual currency companies (such as Ripple), which also provide a payment message platform to support cross-border remittances as virtual currency XRP, which can be used to achieve the settlement of these transfers.”
More about Ripple
Ripple is a digital asset used for payment. The traditional payment infrastructure is too much made up of outdated systems that have not yet taken advantage of the large number of technical solutions available to us. Using blockchain technology, Ripple can provide safe and reliable cross-border currency transfers suitable for today’s global economy.
According to their website:
“The unification of the infrastructure that connects infrastructure and institutions with providers not only helps our customers develop their businesses, but also enables the world to transfer money like today’s information trends – a concept we call the Internet of Value.”
