Wednesday, 20 May 2020

Ripple will now be accepted for cross-border remittances in the USA


 The US Consumer Financial Protection Bureau allowed the use of Ripple as a cross-border remittance tool. Ripple is rising on a trendline, and a break-out might occur soon.

 Ripple is the highest traded cryptocurrency. In terms of market capitalization, it is the third-largest behind Bitcoin and Ethereum. The sheer volume of the traded quantity proves that its market is highly liquid.
A highly liquid market and meager prices attracted millions of retail traders, much higher than the number in BTCUSD. This nature of Ripple has the possibility of a more substantial penetration and usage soon.

The US approves Ripple as cross-border remittance


The US Consumer Financial Protection Bureau mentioned that Ripple’s versatility and widespread acceptance could be used in supporting cross-border money transfers. And for this purpose, XRPUSD can be used as a settlement for the remittances.
Ripple is significantly different from other platforms in the essence that it is simple yet effective for a payment mechanism. Bitcoin, on the other hand, is by far too complicated for this sort of usage.

No comments:

Post a comment